About Eyeglass World
Provider of optical retail products and services. The company provides optical retail products and services to customers at 60 stores located in 23 states across the United States. It offers on-site laboratories that manufacture prescriptions for its customers. The company also offers contact lenses as well as brand name frames and a range of sunglasses. [Keywords: eye, optical]
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Latest Eyeglass World News
May 10, 2022
Luis Alvarez/DigitalVision via Getty Images National Vision Holdings (NASDAQ: EYE -26.5%) was among the biggest losers on Tuesday after reporting disappointing sales and a pessimistic forecast on earnings. Shares of the Duluth, Georgia-based parent of Eyeglass World and AC Lens, among other brands, reported a slight decline in revenue from the prior year as same store sales slipped 4.9% alongside a steep drop in net income. Adjusted diluted EPS fell a stark 31.5% to $0.33 for the quarter. “Within the pandemic era that has brought swings of both opportunity and challenge, the first quarter was a more challenging quarter,” CEO Reade Fahs explained. “With headwinds from the Omicron variant, weaker consumer confidence, and emerging constraints to exam capacity, our comps declined as we lapped a record performance last year.” However, the commentary rationalizing the disappointing print for the first quarter was not helped by a pessimistic outlook on the road ahead for the company. “Looking ahead, we expect the macro headwinds to our lower-income consumer as well as the constraints to exam capacity to impact our near-term performance,” Fahs said. “Also, as we contend with an inflationary operating environment, we implemented this week the first pricing change to our America’s Best signature offer in over 15 years.” The company now expects comparable store sales growth to fall between 7% and 4% as compared to a prior low band of -1.5%, while net revenue forecasts were cut by about $100 million. Although perhaps most problematic was a cut to adjusted diluted EPS forecasts that took estimates from $1.03 to $1.10 to just $0.65 to $0.80. Shares fell more than 26% in mid-day trading on Tuesday. The steep drop marks the first decline of more than 20% for the stock since March 2020 and has prompted it to sink to a 52-week low.
Eyeglass World Frequently Asked Questions (FAQ)
Where is Eyeglass World's headquarters?
Eyeglass World's headquarters is located at 3801 South Congress Avenue, Lake Worth.
What is Eyeglass World's latest funding round?
Eyeglass World's latest funding round is Acq - Fin.
Who are the investors of Eyeglass World?
Investors of Eyeglass World include Berkshire Partners and Summit Partners.
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