National Vision Holdings, Inc. (NASDAQ:EYE) Q2 2020 Earnings Conference Call - Final Transcript

Aug 06, 2020 • 10:00 am ET


National Vision Holdings, Inc. (NASDAQ:EYE) Q2 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to the National Vision Second Quarter Fiscal 2020 Financial Results Conference Call. [Operator Instructions].

I would now like to hand the conference over to your host, David Mann, Vice President of Investor Relations. Please go ahead, sir.

David Mann

Thank you, and good morning, everyone. Welcome to National Vision's Second Quarter 2020 Earnings Call. Joining me on the call today are Reade Fahs, Chief Executive Officer; and Patrick Moore, Chief Financial Officer. Our earnings release issued this morning and the presentation, which will be referenced during the call, are both available on the Investors section of our website,, and a replay of the audio webcast will be archived on the Investors page after the call.

Before we begin, let me remind you that our earnings materials and today's presentation includes forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties that could cause actual results to differ materially from our expectations and projections. These risks and uncertainties include, but are not limited to, the factors identified in the release and in our filings with the Securities and Exchange Commission. The release in today's presentation also includes certain non-GAAP measures. Reconciliation of these measures are included in our release and the supplemental presentation.

We also would like to draw your attention to slide 2 in today's presentation for additional information about forward-looking statements and non-GAAP measures. As a reminder, National Vision expects to provide certain supplemental materials or presentations for investor reference on the Investors section of our website.

Now let me turn the call over to Reade.

Reade Fahs

Thank you, David. Good morning, everyone. I'd like to thank you all for joining us today. We hope that everyone is doing well and staying safe during these adverse times.

Turning to slide 4; the second quarter represented one of the most eventful periods in our company's history and our respective careers. The key highlight to our quarter was the successful, safe and gradual reopening of our stores that was completed by early June. All of our stores were closed to the public for about six weeks beginning in mid-March, during which time, our cross-functional safety committee developed the protocols to operate safely and remain open during this pandemic. These protocols include heightened cleaning and disinfecting procedures, personal protective equipment, social distancing in stores and expanded health and safety training. Also, we have adopted a face coverings required policy in all of our stores.

We believe that we have implemented an effective safety-first approach to serve patients and customers in a COVID-19 environment that has been successfully integrated into our store operations and while some adjustments may be needed as the environment dictates, we believe that we are well positioned to continue our store operations through the remainder of the COVID-19 pandemic regardless of its duration.

Turning to slide 5; since early June, our stores have been open and returned towards more normal operations.