PITTSBURGH (AP) — GNC Holdings Inc., which sells vitamins, herbal supplements and other health products, said Thursday that its net income rose 28 percent in the third quarter on a 16 percent rise in revenue.
GNC's results were slightly better than Wall Street expected, and the company made modest increases to its full-year guidance.
The company said its net income rose to $62.2 million, or 60 cents per share, from $48.7 million, or 45 cents per share. Its adjusted earnings came to 61 cents per share. Analysts surveyed by FactSet expected 58 cents per share.
Revenue increased to $621.6 million from $538 million. Analysts expected $618.6 million in revenue.
GNC said its revenue from company-owned stores in the U.S. and Canada rose 16 percent to $445 million as it opened 155 new stores over the last year, got more revenue from GNC.com and acquired LuckyVitamin.com. The company said sales at locations open at least a year grew 9.8 percent, down from 10.3 percent a year ago.
Revenue from locations open at least a year is considered an important measurement of retailer health because it leaves out results from stores that have opened or closed in the last year.
GNC said revenue from franchised stores rose 20 percent to $108.8 million, and its manufacturing and wholesale revenue rose to $67.8 million from $61.8 million.
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