National Vision Holdings, Inc.
For the period ended Jun 28, 2025. Filed Aug 7, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 28, 2025 · Filed Aug 7, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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2. Discontinued Operations
- Discontinued Operations
We recorded a net expense of $2.9 million and $5.7 million during the three and six months ended June 29, 2024, respectively, associated with our discontinued operations, which consisted of severance benefits, early termination fees, and other exit-related costs. These charges were recorded in both Selling, general, and administrative expenses and Costs applicable to revenue for discontinued operations. The plan has been substantially completed and we do not anticipate additional material costs related to this plan.
The following table presents loss from discontinued operations, net of tax:
| Three Months Ended | Six Months Ended | |
|---|---|---|
| In thousands | June 29, 2024 | June 29, 2024 |
| Revenue: | ||
| Net product sales | $53,471 | $127,070 |
| Net sales of services and plans | — | 4,513 |
| Total net revenue | 53,471 | 131,583 |
| Costs applicable to revenue (exclusive of depreciation and amortization): | ||
| Products | 49,901 | 109,528 |
| Services and plans | 7 | 2,762 |
| Total costs applicable to revenue | 49,908 | 112,290 |
| Operating expenses: | ||
| Selling, general and administrative expenses | 6,542 | 23,164 |
| Depreciation and amortization | 370 | 1,331 |
| Other expense (income), net | (8) | (20) |
| Total operating expenses | 6,904 | 24,475 |
| Loss from discontinued operations before income taxes | (3,341) | (5,182) |
| Income tax (benefit) from discontinued operations | (1,257) | (3,030) |
| Loss from discontinued operations, net of tax | $(2,084) | $(2,152) |
The following table presents significant non-cash items and cash flows from investing activities related to discontinued operations:
| Six Months Ended | |
|---|---|
| In thousands | June 29, 2024 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |
| Depreciation and amortization | 1,331 |
| Stock-based compensation expense | 81 |
| Inventory adjustments | 441 |
| Other | (564) |
| Cash flows from investing activities: | |
| Other | 1,732 |
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