National Vision Provides Update on Additional COVID-19 Related Business Measures

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DULUTH, Ga.—National Vision Holdings Inc. (NASDAQ: EYE) one of the nation’s largest optical retailers, announced additional COVID-19 related business measures on Tuesday. In addition to the previously noted organization-wide initiatives to reduce expenses and capital expenditures, as VMAIL reported here, National Vision on Tuesday said it has temporarily furloughed a significant portion of its associates. And, along with a pause in new store openings and reduced near-term marketing, the company is working with its base of partners and vendors to extend payment terms and modify existing contracts, the announcement Tuesday noted.

“The reality facing most companies in America today is one of cash preservation due to the uncertain duration of the pandemic’s impact,” chief executive officer Reade Fahs said in the announcement. “We as individuals, as a company, and as a nation must maintain fortitude as we battle, and defeat, this COVID-19 crisis collectively. We will get through this and be stronger for the adversity we overcame together.”

While stores remain temporarily closed to the public, associates are available by phone for patients and customers in need during the hours of 9:00 a.m. to 5:00 p.m., Monday through Saturday.

“As a low-cost provider of a medical necessity, our call centers continue to field a significant number of requests from patients and customers including urgent eyecare issues, broken glasses and contact lens renewals,” Fahs said. “Our patients and customers need us because we are frontline providers of the eyecare and eyewear required to live their lives. Now, more than ever, in this time of restricted access for so many, it is important that we continue serving in a way that provides care for their most urgent and emergency eyecare and vision needs.”

National Vision operates more than 1,100 retail stores in 44 states plus the District of Columbia and Puerto Rico. Its retail brands include America’s Best Contacts & Eyeglasses, Eyeglass World and Vision Centers inside select Walmart stores.