National Vision Holdings (7NV) AI Stock Analysis

Company Guidance

National Vision raised profitability guidance while narrowing top‑line expectations, now forecasting full‑year net revenue of $2.03–$2.08 billion with adjusted Comparable Store sales of +3% to +5%, adjusted operating income of $119–$139 million (with depreciation & amortization of $92–$93 million) — the midpoint implying ~120 bps of adjusted operating margin expansion vs. 2025 (Q3/Q4 expected flat‑to‑modest margin expansion) — and adjusted diluted EPS of $0.90–$1.09 on ~80.9 million diluted shares; management expects ticket initiatives (Nikon Eyes, store segmentation, premium assortments) to add ~100–200 bps to ticket growth in H2, has incorporated an expected ~$5 million tariff refund (benefiting Q3 costs), remains on track for ~$10 million of annualized cost savings, sees interest expense of $11–$13 million and an effective tax rate around 30%, plans CapEx of $72–$76 million to open ~30–35 stores (tracking toward the lower end) while closing ~15 (net +15–20), and enters the period with $36 million cash, $329.3 million total liquidity, $237.7 million net debt (~0.9x net debt/adjusted EBITDA), inventory up ~37% y/y (expected to moderate), and $30 million remaining on the share repurchase authorization after $20 million of repurchases in Q2.