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DULUTH, Ga.—National Vision Holdings Inc. (NASDAQ: EYE) reported Wednesday double-digit increases in sales, net income, adjusted EBITDA and comparable-store sales for its fourth quarter ended Dec. 28, 2019. Sales and net income also rose on a double-digit basis for fiscal year 2019, with comparable-store sales rising 6.5 percent (6.2 percent on an adjusted basis) in the 12-month period. The fourth quarter marked the 72nd consecutive quarter of positive comparable-store sales growth for the company. Chief executive officer Reade Fahs said the fourth-quarter results “represented a strong finish to another record year of revenues and profitability for National Vision,” which operated 1,151 stores at the end of last year.

In the fourth quarter, net revenue increased 12.9 percent to $401.8 million, while comparable-store sales rose 10.1 percent (8.1 percent on an adjusted basis). Net income increased 121.3 percent to $3.9 million, and adjusted net income increased 735.5 percent to $8.7 million.

For fiscal 2019, net revenue increased 12.2 percent to $1.72 billion, driven in part by comparable-store sales growth of 6.5 percent (6.2 percent on an adjusted basis). Net income increased 38.7 percent to $32.8 million.

“The [National Vision] team delivered our 72nd consecutive quarter of positive comparable-store sales growth, demonstrating the consistency of our differentiated business model,” Fahs said in the announcement. “Our fourth quarter and 2019 results reinforce our belief that our strong value message continues to resonate with patients and customers.”

In a conference call with securities analysts, Fahs noted that the company has not been impacted by the Coronavirus epidemic that has now spread from China to many other countries. One of National Vision’s six optical labs is in China.

“To date, we have had no significant impact on our supply chain,” Fahs told analysts. “We are well-inventoried for the first half of the year, and that includes our peak season.” The company’s China lab “is up and going after the Chinese New Year and delivering to our needs and expectations.”

He noted, though, that the situation is fluid and that the company is closely monitoring the impact worldwide.

In 2019, National Vision opened 75 stores, closed six stores and ended the period with 1,151 stores. Overall, store count grew 6.4 percent from December 30, 2018, to December 28, 2019. The company said it “continues to gain share in the attractive optical retail market.”

National Vision noted that, in January, it expanded a long-running agreement with Walmart to include an additional five vision centers within Walmart stores. This is the start of the 30th year of an optical partnership with Walmart, and the additional locations will raise the number of Walmart vision centers to 231. (The new Walmart locations have not been transferred from Walmart to National Vision, but the planning for this is under way.) Fahs noted that he believes this expansion move indicates a strengthening of the company’s relationship with Walmart.

In 2020, National Vision expects to open about 75 new stores (predominantly under the America’s Best banner within existing markets), achieve adjusted comparable-store sales growth in the range of 3 percent to 5 percent, and report net sales in the range of $1.875 billion to $1.905 billion. The projected capital expenditure spending is between $100 million and $105 million, according to Wednesday’s announcement.