National Vision (EYE) Goldman Sachs 31st Annual Global Retailing Conference summary

Remote medicine and operational transformation

• Remote eye exams now account for 12% of exams and are growing, addressing optometrist shortages post-COVID.

• The remote program is legal in 28 states, with Texas joining recently, and aims to match or exceed in-store doctor productivity.

• Hybrid models allow in-store doctors to serve multiple locations, improving efficiency and capacity.

• The remote initiative is seen as a key differentiator and is expected to expand further.

• Transformation efforts include digitization and new leadership to accelerate progress.

Consumer trends and promotional strategies

• Managed care customers are growing, now over 35% of business, with high single-digit comps; cash pay customers remain flat.

• Promotions such as Wise Buys and progressive lens offers have successfully attracted new and returning customers.

• Promotions are closely monitored to balance increased traffic with margin impact.

• Value-focused consumers are more selective, buying fewer add-ons and upgrades.

• The company expects continued promotional activity, especially targeting progressive lens wearers.

Competitive landscape and differentiation

• In-store bundled eye exams and glasses differentiate from online and mass retailers.

• Online sales spiked during COVID but have since stabilized; new partnerships like Pair Eyewear aim to leverage online interest in stores.

• Eyeglass World offers same-day service and a more brand-focused experience, while America's Best emphasizes deep value.

• Pricing is managed with precision, focusing on targeted increases and monitoring customer response.