us you, Thank David. joining all today. Thank Good everyone. morning, for you
and a X of Slide with start Let's summary QX.
quarter. EPS of compared For delivered diluted XXXX. the for of and comparable the third We third adjusted store sales the net to declined X.X% revenue quarter, X.X% decreased adjusted $X.XX quarter
confidence stores. an inflation, continued including But of our customers. time, constraints well customers higher-income pressuring customer and into saw base in capacity. the uninsured our Our same The of macro consumer third lower predominantly on income in the we higher acceleration trade weaker a environment are consumer broadening as performance at our our and recession as quarter impacted was exam headwinds, weaker risks by down
retention, In and terms medicine. we're capacity, improved strong hiring our progress through to of remote constraints exam making sequential
remains needs and our exam patient our with next capacity gradually into XXXX traffic, year. certain exam which, While course, out markets, sync affects we improve expect throughout capacity of of to in
our a we're of to year-end medicine As address Also, we our stores, journey. current target. including proud in as XX on signed XXX disclosure challenges, record in X these World and currently report on making EssilorLuxottica. We last of week, more also lens X providing growth approximately We're focused enabled we months we stores, initiatives. Eyeglass have August, remote XXXX with are which released of our multiyear a ESG locations our extension ahead is progress agreement our sustainability with shared purchasing we're the in-depth opened
for few release, our and QX revenues outlook our today's Patrick more Melissa in provide will XXXX minutes, results profitability. our outlook. reaffirmed a In we and Finally, and detail on XXXX
Slide to Turning X.
headwinds, challenges. especially the we category X will the caused macro over future. to the shows, has began due and consistent The a chart highlights the The cycle by of we purchase years the the believe and been optical the stable more to quarterly and variants. start performance by of has chart consistent pandemic. to comp of in has the over disruption volatile last eye inherently and COVID multiple see been higher time, our quite disruption return on the performance Slide demonstrated predictable the X inflation and the biology historical cycle environment waves time pandemic even business exacerbated the As purchase consistency impacted been category of amidst the economic broader optical pandemic, before with the The over temporary by that
This confidence. by impacted optical third broadly of weaker trends, also industry. weaker felt demand being consumer inflationary is demand continues be terms to pressures In in consumer quarter more and the
traditional was patients. quarter, experienced season our year better as with engagement more the we back-to-school last school-age younger than During
Although to At we seasonal capacity. same weakness quarter, to levels, more were back cycle due Florida. constraints not movement of a environment end to traffic by impacted historical our experienced seasonality. the the and purchase time, normal we encouraged Ian pre-COVID in the in operations and macro we Hurricane seasonal were broader Near to exam this the store
this associates natural Of optometrists, course, the of everyone affected well-being was and with concern families and disaster. our the greater their by
XXXX. need. was damage. We the we We closings concentration approximately Our impact effect in impact people revenue sales and closed so with these approximately Florida. storm. estimate of to World work disproportionate into million in expect hearts XXX recover optometrists comp a store teams X We due Ian's with would and and help the whose XX a its internal $X associates, lives to of disrupted in over closely QX peak, had by basis or to Eyeglass were go our points store stores still to to due At out customers the store temporary remains
behavior. of Let me expand in we're what a little more consumer seeing on terms
In are lower first to down more in an that this quarter. insured our the stores customers paying in trade recession. the out last slice offering by have XXXX, parking further are ever nicer these Demand of comp our be time the of uninsured as public. value continues We're inflationary is to and who services, should pocket and products what of happened as of higher-income American ever our current half business consumers pressure. it lot. we past the referred to appealing would into cars encouraged for acceleration income, the feeling build greatest of pronounced positively Our down more the predominantly in our larger acceleration expect also for QX, noticeably softness environment, the an believe consumers to began In trade that as this experienced the we we what over during is
goes in capacity exam on unfulfilled available optometrist. certain to exam an face words, due markets. of Our the lack stores constraints In in business demand for some other continues to appointments
team key making to incremental our Our progress expand is initiatives capacity. exam on
drive testament our multiple year. to initiatives First, up is levels This retention to retention. remain versus a last
in In terms we've increased hiring, experienced off. optometrists. recruiting of strong continued Year-to-date, to our hiring pay of investments
we arrival the saw in our of stores. new practice that wave the to hires of QX, began During
progress excited of remote remain about we Lastly, rollout. medicine the our
noted As remote in currently thereby enabled in today's earnings release, ahead our stores, target medicine XXX schedule. approximately year-end is achieving of
operating productivity. in electronic have we're a a see longest With at continuing remote stores come the and performed period, and stores, for our with records rollout medicine new learning which the learn curve. optometrists to that of In exams associates remote processes, operating significant ramp health
incremental these capacity serving added throughout can next capacity being medicine more exam remote exam we year. and that our with and pleased improve both and into the role the increase across by time. are should it gradually expect of initiatives, patients in geography XXXX Because We play in going
unusual business subgroup to challenge the simultaneously headwinds as these of up we today, capacity, as long-term on to stores the Shifting X. constraints we of in are see that, a in current both So situation macro stores due our our we're in strength across exam a as confident and but environment of model. network remain in Slide facing an temporary well supply demand given the we
initiatives. our progress core growth We to continue
the years expansion, a Eyeglass a XX for this as We continue to openings the to in X space up quarter, we store record World terms third had brand. with In of see come. sizable ramp expansion white we including many of locations opportunity growth
least We expect into specific of open and XXXX a at to XXXX. in have currently XX locations stores pipeline solid
in high and job attracted believe navigating trade-down a fantastic real stores, In mouth. team of current are to estate finding traffic the purchase our driving continues for we given Marketing challenges. the infrequent consumers key done factor has budget-conscious a the environment of Our word cycle and supply our value positive chain messaging inflation, us by to growing eyeglasses. be
are and focus this continue on marketing be leveraging expenses We year. to pleased to marketing efficiency
in insurance to all programs insured in driver, in tied insurance be a we vision experienced shopping especially revenue from positive the participation the tight growth their In of third sales not continues because insurance vision economy. are to environment. or funds consumers most Our in quarter, purchases the current as deterred a
managed me co-pays underdeveloped go ongoing consumer. here and further care to dollars the uninsured detailed an more tend comps call opportunity were and let positive for to remain see comps to to our a to care to outlook. continue for managed category outperform and the results Our turn as over the We in Patrick our relative related point, and stores continued financial elsewhere. At XXXX of this than discussion
