National Vision reports Q3 adjusted EPS 12c, consensus 6c

Reports Q3 revenue $451.5M, consensus $451.47M. Reports comparable store sales growth of 1.4% and adjusted Comparable Store Sales Growth of 0.9%. “We are encouraged by the progress we are making against key elements of our transformation, including completing the review of our store fleet, implementing new traffic-driving initiatives, continuing to expand exam capacity and remote exam efficiency, and benefiting from new perspectives through our deepened executive bench,” said Reade Fahs, National Vision’s (EYE) CEO. “During the quarter, we experienced top line trends consistent with prior quarters as America’s Best continued to drive our sales performance supported by strength in our managed care business. In addition, customers responded well to our new Wise Buys eyeglass promotion that helped to enhance our value offering and attract new customers. We continued to leverage our remote capabilities to expand exam capacity as well as provide doctors with convenient new ways to practice. While we continue to execute on our transformation, we are pleased to reiterate our guidance for the year and remain committed to positioning National Vision for long term success.”