Q2 2024 National Vision Holdings Inc Earnings Call Transcript
Key Points
- Revenues in the second quarter were $452 million, up 4.6% over the same period last year.
- Adjusted comparable store sales improved to 2.4%, driven by a 2.9% increase at America's Best.
- Adjusted operating income increased by 13.8% to $14.1 million.
- The Eyeglass World brand showed sequential improvement in comp store sales from the first to the second quarter.
- Remote exam capabilities have been expanded to nearly 600 stores across 28 states, with remote exams now representing about 12% of exams in remote-enabled states.
- Despite positive sales, the financial results did not meet the anticipated targets for the year.
- Heightened macro consumer pressure affected second-quarter sales results, leading to a revision of the full-year guidance.
- Cash-pay customer sales were essentially flat, indicating ongoing consumer spending constraints.
- The company is facing increased costs, including higher doctor wages and other associate wages.
- Lower-than-expected results from this year's OD recruitment class impacted the company's ability to meet exam capacity demands.
Good day, and thank you for standing by. Welcome to the Q2 2024 National Vision Holdings earnings conference call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your first speaker today, Tamara Gonzalez, Vice President of Investor Relations. Please go ahead.
Thank you, and good morning, everyone. Welcome to National Vision's second-quarter 2024 earnings call. Joining me today are Reade Fahs CEO; and Melissa Rasmussen, CFO.
Our earnings release issued this morning and the presentation accompanying our call are both available in the Investors section of our website, nationalvision.com. A replay of the audio webcast will be archived in the Investors section after the call.
Before we begin, let me remind you that our earnings materials and today's presentation include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These
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