National Vision Slips To Loss In Q2

(RTTNews) - National Vision Holdings Inc. (EYE) reported that its net loss for the second quarter ended June 27, 2020 was $43.8 million or $0.55 per share compared to net income of $10.3 million or $0.13 per share for the second quarter of 2019.

Adjusted loss per share was $0.41 compared to adjusted net income of $0.18 per share in the previous year.

Net revenue decreased 39.5% to $260.0 million from $429.5 million last year. Net revenue was negatively impacted by 10.0% due to the timing of unearned revenue, which also resulted in material impacts to profitability.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.50 per share and revenues of $246.63 million for the quarter. Analysts' estimates typically exclude special items.

Comparable store sales was down 44.7% and Adjusted Comparable Store Sales was down 36.5%.