Every material Form 8-K National Vision filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
National Vision, Inc., a subsidiary of National Vision Holdings, and Essilor of America entered into Amendment No. 3 to their 2018 Letter Agreement on December 13, 2025. The amendment extends the initial term by two years, from May 31, 2026 to May 31, 2028, and updates pricing terms, though the filing does not state the new prices.
Amendment No. 3 signed December 13, 2025 with Essilor of America, Inc.
Initial term extended two years, from May 31, 2026 to May 31, 2028
Pricing terms updated; specific figures are not disclosed, and some exhibit information is excluded under Regulation S-K Item 601(b)(10)(iv)
National Vision reported third quarter 2025 net revenue from continuing operations of $487.3 million, up 7.9% from a year earlier, and income from continuing operations of $3.4 million compared with a loss of $8.4 million in the prior-year period. The company raised certain elements of its fiscal 2025 outlook, including Adjusted Operating Income of $92 million to $98 million and Adjusted Diluted EPS of $0.63 to $0.71.
Net revenue rose 7.9% to $487.3 million; comparable store sales grew 6.8%, the 11th consecutive quarter of positive growth.
Diluted EPS from continuing operations was $0.04 versus $(0.11) a year earlier; Adjusted Diluted EPS was $0.13 versus $0.12.
Updated fiscal 2025 outlook (as of November 5, 2025): net revenue $1.970 billion to $1.988 billion, up from $1.934 billion to $1.970 billion; Adjusted Diluted EPS $0.63 to $0.71, up from $0.62 to $0.70.
Cash was $56.0 million and total debt was $253.4 million as of September 27, 2025; the revolving credit facility balance was repaid to zero.
National Vision reported second quarter 2025 results for the quarter ended June 28, 2025, with net revenue from continuing operations up 7.7% to $486.4 million and income from continuing operations of $8.7 million, compared with a loss of $(1.0) million a year earlier. The company raised several elements of its fiscal 2025 outlook, including adjusted comparable store sales growth and adjusted diluted EPS guidance.
Q2 net revenue rose 7.7% to $486.4 million; income from continuing operations was $8.7 million versus a $(1.0) million loss in the prior-year period
Adjusted Operating Income rose 69.1% to $23.8 million; Adjusted Diluted EPS was $0.18 versus $0.15
Fiscal 2025 adjusted comparable store sales growth outlook raised to 3.0% to 5.0% from 1.5% to 3.5%; adjusted diluted EPS outlook raised to $0.62 to $0.70 from $0.59 to $0.67
Company will host an Investor and Analyst Day in New York on November 17, 2025
National Vision Holdings expanded its board to eleven directors and appointed Alex Wilkes to fill the new seat, effective August 1, 2025. The appointment follows a CEO succession plan first announced April 29, 2025, under which Reade Fahs becomes Executive Chairman and Wilkes succeeds him as CEO.
Board size increased by one director to a total of eleven, effective August 1, 2025
Alex Wilkes appointed to the Board effective August 1, 2025
Succession plan previously announced in April 29, 2025 Form 8-K: Reade Fahs to become Executive Chairman, Wilkes to succeed Fahs as CEO
National Vision reported first quarter 2025 results for the quarter ended March 29, 2025, with net revenue up 5.7% to $510.3 million and diluted EPS from continuing operations of $0.18, compared with $0.15 a year earlier. The company also raised certain elements of its fiscal 2025 outlook, including adjusted diluted EPS guidance of $0.59 to $0.67, up from $0.52 to $0.64.
Net revenue rose 5.7% to $510.3 million; comparable store sales grew 4.1% and adjusted comparable store sales grew 5.5%
Diluted EPS from continuing operations was $0.18 versus $0.15; adjusted diluted EPS was $0.34 versus $0.29
Fiscal 2025 adjusted operating income outlook raised to $81 million to $92 million from $73 million to $88 million
Cash balance was $80.0 million as of March 29, 2025, with total debt of $346.1 million
National Vision Holdings announced that Alex Wilkes, currently president of the company, will succeed Reade Fahs as chief executive officer effective August 1, 2025, and will join the Board at that time. Fahs will become Executive Chairman, and director Thomas V. Taylor, Jr. will leave the Board after the 2025 annual meeting, a change that shareholders should note as the leadership transition takes effect.
Alex Wilkes, 46, becomes CEO and director effective August 1, 2025; he was appointed president in August 2024 and previously led CooperVision's Americas business.
Wilkes' salary rises from $600,000 to $900,000, his 2025 target cash bonus rises from $450,000 to $900,000, and he receives a $1,000,000 promotional RSU grant.
Reade Fahs' salary falls to $700,000 and his 2026 cash incentive target falls to $560,000; he receives no annual cash incentive for 2027.
Thomas V. Taylor, Jr. will not stand for reelection at the 2025 annual meeting, reducing the Board from eleven to ten directors before it expands again on August 1, 2025.
National Vision Holdings entered into a Cooperation Agreement with Engine Capital, L.P. on March 17, 2025, under which the Board increased from nine to eleven directors and appointed James M. McGrann and Michael J. Nicholson. The company also formed an operationally focused Advisory Committee to oversee its transformation work, and the agreement includes voting commitment and standstill provisions. The filing reports no financial results, so the changes concern board composition and governance rather than current performance.
Board expanded from nine to eleven directors; McGrann and Nicholson appointed effective March 17, 2025, with terms expiring at the 2025 annual meeting
Nicholson joins the Audit and Nominating and Corporate Governance Committees; McGrann joins the Compensation Committee
Four-director Advisory Committee formed: McGrann, Nicholson, D. Randolph Peeler and Susan Somersille Johnson
Agreement terminates thirty days before the advance notice deadline for director nominations at the 2026 annual meeting
National Vision reported fourth-quarter 2024 net revenue of $437.3 million, up 3.9%, but a net loss from continuing operations of $(29.4) million, which the company attributed largely to a non-cash goodwill impairment charge. For fiscal 2024, revenue rose 3.8% to $1,823.3 million, while the net loss was $(27.2) million, compared with net income of $3.5 million in fiscal 2023, and adjusted diluted EPS rose to $0.52 from $0.47. The company also gave fiscal 2025 guidance, including adjusted diluted EPS of $0.52 to $0.64.
Q4 2024 net loss from continuing operations was $(29.4) million, versus $(14.7) million in Q4 2023; diluted EPS was $(0.37), versus $(0.19)
Q4 2024 adjusted diluted EPS was $(0.04), unchanged from Q4 2023; adjusted operating income rose to $3.2 million from $(2.7) million
Fiscal 2025 outlook (53 weeks ending January 3, 2026) includes net revenue of $1.901 billion to $1.955 billion and adjusted diluted EPS of $0.52 to $0.64
Cash balance was $73.9 million as of December 28, 2024; fiscal 2024 operating cash flow was $133.6 million
National Vision said its CFO, Melissa Rasmussen, will leave to pursue another opportunity after a transition period, and she will stay through the release of fourth quarter and fiscal 2024 results on February 26, 2025. The company also released preliminary results showing fiscal 2024 net revenue from continuing operations of approximately $1,823 million, up 3.8%, and now expects Adjusted Operating Income from continuing operations slightly above the higher end of its prior fiscal 2024 guidance. The results are unaudited and may change until financial closing procedures are complete.
CFO Melissa Rasmussen will depart after a transition period; she plans to remain through the February 26, 2025 earnings release, and the company has begun a search for a successor and may appoint an interim CFO.
Preliminary fiscal 2024 net revenue from continuing operations was approximately $1,823 million, an increase of 3.8% from fiscal 2023.
Preliminary fourth quarter 2024 net revenue from continuing operations was approximately $437 million, up 3.9%, with adjusted comparable store sales growth of approximately 1.5%.
Adjusted Operating Income from continuing operations is now expected to be slightly above the higher end of prior fiscal 2024 guidance; the figures remain preliminary.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
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