PR Newswire - October 08, 1998 08:21
LAWRENCEVILLE, Ga., Oct. 8 /PRNewswire/ -- National Vision Associates, Ltd. (Nasdaq: NVAL) announced sales results for the four weeks ended October 3, 1998.
Total net sales for the four-week period were $20.7 million, an increase of 49.2 percent over the comparable four-week period a year ago. Net sales include revenues of $5.4 million for the Frame-n-Lens operation for the four-week period ending October 3, 1998. National Vision Associates acquired Frame-n-Lens effective July 28, 1998, in a transaction accounted for as a purchase.
Comparable store sales for domestic vision centers (sales in vision centers open for a full year, excluding the Midwest Vision and Frame-n-Lens operations acquired in October, 1997 and July, 1998, respectively) were flat compared to the level recorded in the comparable four-week period a year ago. At October 3, 1998, including vision centers acquired with the Frame-n-Lens acquisition, NVAL operated 744 vision centers compared to 380 vision centers at September 27, 1997.
For the Third Quarter ended October 3, 1998, total net sales increased 47.5 percent to 67.7 million, from 45.9 million the same period a year ago. Third Quarter comparable store sales for domestic vision centers increased 3.5 percent over the level recorded in the Third Quarter last year.
For the fiscal year-to-date, total net sales were $173.1 million, an increase of 28.5 percent over the comparable period a year ago. Year-to-date comparable store sales for domestic vision centers increased 3.5 percent.
National Vision Associates, Ltd., with a total of 744 locations, is the nation's second largest optical company in terms of locations, including 290 locations with Frame-n-Lens and 50 freestanding locations that operate under the trade name, Midwest Vision. The Company's retail operations offer a full line of optical goods including spectacles, contact lenses, prescription and non-prescription sunglasses and a full line of optical accessories. In addition, independent Doctors of Optometry are available adjacent to store locations.
SOURCE National Vision Associates, Ltd.
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