National Vision Holdings, Inc. (NASDAQ:EYE) Q3 2022 Results Conference Call November 10, 2022 10:00 AM ET

Company Participants

David Mann - SVP, IR

Reade Fahs - CEO

Patrick Moore - Chief Operating and Financial Officer

Melissa Rasmussen - CFO-elect

Conference Call Participants

Zack Fadem - Wells Fargo

Anthony Chukumba - Loop Capital

Brandon Cheatham - Citi

Adrienne Yih - Barclays

Bob Drbul - Guggenheim Partners

Kate McShane - Goldman Sachs

Michael Kessler - Morgan Stanley

Michael Lasser - UBS

Molly Baum - Bank of America

Operator

Thank you for standing by, and welcome to the National Vision's Third Quarter 2022 Earnings Conference Call. [Operator Instructions] As a reminder, today's conference call is being recorded.

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

David Mann

Thank you, and good morning, everyone. Welcome to National Vision's Third Quarter 2022 Earnings Call. Joining me on the call today are Reade Fahs, CEO; Patrick Moore, Chief Operating and Financial Officer; and Melissa Rasmussen, CFO-elect.

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, nationalvision.com, 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 in today's presentation include 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 our filings with the Securities and Exchange Commission.

The release in today's presentation also includes certain non-GAAP measures. Reconciliation of these measures is 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 provides investor presentations and supplemental materials 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. Thank you all for joining us today. Let's start with Slide 4 and a summary of Q3. For the third quarter, net revenue decreased 3.6% and adjusted comparable store sales declined 8.1% compared to the third quarter of 2021.