National Vision Holdings, Inc. (NASDAQ: EYE) has announced key leadership changes and preliminary financial results for the fourth quarter and full fiscal year 2024. The company's Chief Financial Officer, Melissa Rasmussen, is set to depart following a transition period, and the company has commenced a search for her successor. In light of this, select preliminary financial results were released.
For the fourth quarter of 2024, the company reported net revenue from continuing operations of approximately $437 million, representing a 3.9% increase from the same quarter in fiscal year 2023. Additionally, the comparable store sales growth was approximately 2.6%, with adjusted comparable store sales growth of approximately 1.5% from the same quarter in fiscal year 2023.
Looking at the full fiscal year 2024, the company disclosed net revenue from continuing operations of approximately $1,823 million, indicating a 3.8% increase from fiscal year 2023. Furthermore, the comparable store sales growth was approximately 1.9%, with adjusted comparable store sales growth of approximately 1.3% compared to fiscal year 2023. The company also expects adjusted operating income from continuing operations to be slightly above the higher end of its previously provided guidance for fiscal 2024.
These preliminary financial results reflect the company's performance and indicate initial benefits from transformation initiatives as well as the impact from the timing of unearned revenue. National Vision Holdings, Inc. anticipates sharing more details on its results and the progress made on its transformation when it reports fourth quarter earnings.
The company highlighted changes to its executive leadership team, including expanded responsibilities for three key executives to support its transformation efforts. Megan Molony, Chief Merchandising and Managed Care Officer, is assuming leadership of manufacturing and distribution, uniting all managed vision care functions under one umbrella. Mark Banner has been named President of America’s Best and will oversee store design and clinical services. Dr. Priti Patel has been named General Manager of Eyeglass World, Fred Meyer, and Military, focusing on strengthening the Eyeglass World brand. Additionally, other leaders’ roles have been expanded to align with the company’s strategic initiatives.
National Vision Holdings, Inc. emphasized that the unaudited financial results disclosed are preliminary and subject to change until the completion of financial closing procedures for the fourth quarter and full fiscal year 2024. The company expects to release its financial results for the fourth quarter and full fiscal year 2024 on Wednesday, February 26, 2025. As a result of these announcements, the company's shares have moved 0.4% on the market, and are now trading at a price of $10.79. Check out the company's full 8-K submission here.
