National Vision(EYE)2025-02-26 11:03Financial Performance - Preliminary net revenue from continuing operations for Q4 2024 is approximately 1,823 million, an increase of 3.8% from fiscal year 2023[12]. - The company expects Adjusted Operating Income from continuing operations to be slightly above the higher end of its previously provided guidance for fiscal 2024[12]. - The financial results are preliminary and subject to change until the completion of financial closing procedures[8]. Comparable Store Sales - Comparable store sales growth for Q4 2024 is approximately 2.6%, while Adjusted Comparable Store Sales Growth is approximately 1.5% compared to the same quarter in fiscal year 2023[12]. - Full year comparable store sales growth is approximately 1.9%, with Adjusted Comparable Store Sales Growth at approximately 1.3% compared to fiscal year 2023[12]. - Total comparable store sales growth for the three months ended December 28, 2024, was 2.6%, compared to 6.6% for the same period in 2023[20]. - Adjusted Comparable Store Sales Growth from continuing operations for the three months ended December 28, 2024, was 1.5%, down from 6.3% in the prior year[20]. - For the fiscal year 2024, total comparable store sales growth was 1.9%, compared to 3.4% in fiscal year 2023[20]. - The company estimates a 0.5% decrease in Adjusted Comparable Store Sales Growth for 2025 due to the effect of deferred and unearned revenue[20]. - The adjusted growth includes the effect of recognizing deferred and unearned revenue as if earned at the point of sale[20]. Segment Performance - America's Best segment reported a comparable store sales growth of 2.0% for the three months ended December 28, 2024, compared to 7.2% in 2023[20]. - Eyeglass World segment experienced a decline in comparable store sales growth of (1.7)% for the three months ended December 28, 2024, compared to a growth of 1.2% in 2023[20]. - Military segment showed a slight increase in comparable store sales growth of 0.2% for the three months ended December 28, 2024, down from 5.1% in 2023[20]. - Fred Meyer segment reported a comparable store sales decline of (2.1)% for the three months ended December 28, 2024, compared to a decline of (0.2)% in 2023[20]. Leadership Changes - Leadership changes include Joe VanDette as Chief Brand & Marketing Officer and Jared Brandman as Chief Legal & Strategy Officer to support transformation efforts[5]. - Mark Banner has been appointed President of America's Best, focusing on enhancing the in-store experience[6]. - The company is in the process of transitioning leadership with CFO Melissa Rasmussen departing after the release of Q4 and full fiscal year 2024 results[2]. Company Operations - The company operates over 1,200 stores across 38 states and Puerto Rico, aiming to make quality eye care more affordable and accessible[18]. - The company’s performance metrics are based on cash basis revenues consistent with reportable segment revenues[20].