Company: National Vision Holdings, Inc.
Symbol: EYE
Description: They are one of the largest and fastest growing optical retailers in the United States and a leader in the attractive value segment of the U.S. optical retail industry.
Shares: 15.8 million
Price Range: $18.00-$20.00
Trade Date: 10/26
Underwriter(s): BofA Merrill Lynch, Goldman Sachs & Co., Citigroup, KKR, Morgan Stanley, Jefferies, UBS Investment Bank, Wells Fargo Securities
Co-Manager(s): Guggenheim Securities, Mizuho Securities, Macquarie Capital
Filed 10-16-17
Business: Their mission is to make quality eye care and eyewear affordable and accessible to all Americans. They achieve this by providing eye exams, eyeglasses and contact lenses to cost-conscious and low-income consumers. They deliver exceptional value and convenience to their customers, with an opening price point that strives to be among the lowest in the industry, enabled by their low-cost operating platform. They reach customers through a diverse portfolio of 980 retail stores across five brands and 19 consumer websites as of July 1, 2017.
FINANCIALS: Their net revenues (predecessor and successor) were $716.5 million, $840.0 million, $932.7 million, $1.06 million and $1.196 billion and their net income (loss) was $738 thousand, $14.1 million, ($23.9 million), $3.6 million and $14.8 million in 2012, 2013, 2014, 2015, and 2016, respectively. In the first half of 2017, their net revenues increased 14.5% to $707.4 million, while their net income decreased 27.4% to $15.6 million, compared to the same period in the previous year.
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