North Bergen, N.J. – Vitamin Shoppe Inc. reported net income of $16.9 million in the second quarter of fiscal 2014, down 8% from $18.3 million in the same quarter a year earlier. Expenses related to Vitamin Shoppe’s March 2013 purchase of Super Supplements chain helped reduce the retailer’s net income.
Vitamin Shoppe plans to open approximately 60 new stores in 2014. Total net sales in the second quarter increased 10% to $306.2 million, compared to $279.5 million in the same period of the prior year. The retailer attributed its improved net sales to same-store sales growth of 4%, as well as growth in non-same-store sales, e-commerce sales and manufacturing revenue.
Vitamin Shoppe’s board has approved a share repurchase program that enables the company to purchase up to $100 million of its shares of common stock in the next three years. Shares will be repurchased from time-to-time in the open market or in privately negotiated transactions. Looking ahead, Vitamin Shoppe expects higher same-store and e-commerce sales growth in 2014.