National Vision Holdings, Inc. Increases Share Repurchase Authorization to $100 Million
November 29 2021 - 3:05PM
Business Wire
National Vision Holdings, Inc. (NASDAQ: EYE) (“National Vision”
or the “Company”) today announced that its Board of Directors has
authorized an increase by $50 million to $100 million in the
Company’s share repurchase program. Since the original $50 million
program was authorized on November 8, 2021, approximately 1.0
million shares have been repurchased for a total consideration of
$48.4 million.
Reade Fahs, chief executive officer, stated, “The share
repurchase authorization was initially established with the
principal intent of offsetting share dilution related to equity
grants. Although that objective remains, we also believe that the
current share price offers the Company the ability to purchase
shares at an attractive price which will benefit our long-term
stockholders. We remain confident in our business model, and our
ability to continue to generate strong cash flows and deliver
sustainable growth.”
The Board’s authorization permits the Company to make purchases
of its Common Stock from time to time in the open market or
privately negotiated transactions, and pursuant to pre-set trading
plans meeting the requirements of all applicable securities laws
and regulations. Shares may be repurchased under the program
through December 30, 2023. The timing and amounts of any such
repurchases will depend on a variety of factors, including the
market price of the Company’s shares and general market and
economic conditions. The Company expects to fund the share
repurchases using cash on hand.
About National Vision Holdings, Inc.
National Vision Holdings, Inc. is the second largest optical
retail company in the United States (by sales) with more than 1,200
stores in 44 states and Puerto Rico. With a mission of helping
people by making quality eye care and eyewear more affordable and
accessible, the company operates five retail brands: America’s Best
Contacts & Eyeglasses, Eyeglass World, Vision Centers inside
select Walmart stores, and Vista Opticals inside select Fred Meyer
stores and on select military bases, and several e-commerce
websites, offering a variety of products and services for
customers’ eye care needs. For more information, please visit
www.nationalvision.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended (the “Securities Act”) and Section 21E of the Securities
Exchange Act of 1934. These statements include statements related
to our current beliefs and expectations regarding the performance
of our industry, the Company’s strategic direction, market
position, prospects and future results. You can identify these
forward-looking statements by the use of words such as “outlook,”
“guidance,” “believes,” “expects,” “potential,” “continues,” “may,”
“will,” “should,” “could,” “seeks,” “projects,” “predicts,”
“intends,” “plans,” “estimates,” “anticipates” or the negative
version of these words or other comparable words. Caution should be
taken not to place undue reliance on any forward-looking statement
as such statements speak only as of the date when made. We
undertake no obligation to publicly update or review any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except as required by law.
Forward-looking statements are not guarantees and are subject to
various risks and uncertainties, which may cause actual results to
differ materially from those implied in forward-looking statements.
Information about factors that could cause National Vision’s
results to differ materially from those described in the
forward-looking statements can be found in filings by National
Vision with the Securities and Exchange Commission (“SEC”),
including our latest Annual Report on Form 10-K, our Quarterly
Report on Form 10-Q filed on November 10, 2021, and subsequently
filed reports, which are accessible on the SEC’s website at
www.sec.gov. These factors should not be construed as exhaustive
and should be read in conjunction with the other cautionary
statements that are included in this release and in our filings
with the SEC.
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version on businesswire.com: https://www.businesswire.com/news/home/20211129005597/en/
National Vision Holdings, Inc. David Mann, Vice President of
Investor Relations (470) 448-2448
Investor.Relations@nationalvision.com
Racheal Peters, Manager of External Communications (470)
448-2303 Media@nationalvision.com
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