National Vision Raises Revenue 4.8%, Cuts 2026 Outlook to $2.038 Billion
Key Facts
National Vision reported net revenue of $510.5 million in the third quarter of fiscal 2026, ended October 3, up 4.8% from the comparable period. Same-store sales rose 3.6%, while adjusted growth was 2.8%, according to the company. But the company cut its fiscal 2026 revenue outlook to a range of $2.019–$2.038 billion, from its previous range of $2.037–$2.076 billion on August 12. The update puts quarterly revenue growth alongside an annual forecast below the company's previous estimate. The chief executive said the revised outlook reflects the "current consumer environment" and that the company expects to deliver annual profitability in line with its long-term algorithm.
The company attributed same-store sales growth to a higher average ticket, an improved product mix as higher-value products made up a larger share, and strength in the managed-care segment. It said these factors partly offset lower traffic from customers paying out of pocket. This explains the quarter's sales growth while pointing to relative weakness in direct-pay traffic. Adjusted same-store sales growth was 2.8%, compared with overall growth of 3.6%. In the third quarter of 2025, the company posted same-store growth of 6.8%, or 7.7% on an adjusted basis, with customer traffic roughly flat, according to its disclosure at the time. The company said in that disclosure that the average ticket and strength in managed care supported performance; Chief Executive Alex Wilkes had pointed to consumer response to its new product strategy and sales approaches.
The comparison between the two quarters shows same-store sales growth slowing from the rates recorded in the same period a year earlier, alongside the current quarter's reliance on a higher average ticket and a better mix of higher-value products. Managed care remained a supporting factor in both periods, while the company said lower traffic from direct-pay customers constrained growth in the current quarter. The cut to the annual revenue outlook comes in this context, which management described as the current consumer environment. The revised outlook targets a range of $2.019 billion to $2.038 billion for fiscal 2026, versus the previous range of $2.037 billion to $2.076 billion. The third-quarter results had previously been scheduled for release before the market opened on November 12, followed by an investor call at 8:30 a.m. Eastern time. In trading on November 11, EYE shares closed at $18.09, according to EL7 data.
National Vision operates in the optical retail sector through brands including America's Best Contacts & Eyeglasses and Eyeglass World, as well as Vista Opticals locations inside select Fred Meyer stores and DiscountContacts.com. In its disclosure, the company also cited plans to accelerate store openings in 2027 as part of its next phase of business. That direction follows quarterly results combining revenue growth and improved same-store sales with a cut to the annual revenue estimate. The results had been scheduled for release before the market opened on November 12, followed by an investor call at 8:30 a.m. Eastern time. The chief executive said the company expects to deliver annual profitability in line with its long-term algorithm. The consumer environment, in management's explanation, remains a key factor in its updated fiscal-year outlook.