National Vision closed 48 leased vision centers in Wal-Mart stores in the first nine months of this year, and will shutter another seven in the fourth quarter, according to the 422-unit chains 10Q report filed with the Securities and Exchange Commission.
The Q4 closing will leave National Vision with 304 Wal-Mart locations by year-end. The company expects to close 34 additional Wal-Mart vision centers in 2005 and 2006 as their leases expire, then another 40 in 2007, the 10Q report said.
During this years first nine months, leases on 13 of National Visions Wal-Mart vision centers were extended when the host store converted to a supercenter.
Based upon information released to date by Wal-Mart pertaining to its plans for SuperCenter conversions, we operate [another] 13 vision centers whose leases could be extended, two of them before the end of the current fiscal year, the 10Q report noted.
National Vision also operates 35 in Wal-Mart de Mexico stores, 47 in Fred Meyer stores, and 27 on military bases within the U.S., plus two freestanding locations that opened in late August and on Nov. 11. courtesy Vision Monday