GNC Holdings profit slides in Q1
Pittsburgh — GNC Holdings reported that net income for the quarter ended March 31 dipped to $69.9 million, from $72.6 million in the year-ago period.
Retail revenue grew 3.1% to $509.0 million, compared to $493.5 million for first quarter 2013, driven primarily by strength from the e-commerce sector. Consolidated revenue edged up 1.9% to $677.3 million. Same-store sales decreased 0.7%.
“January and February were affected by severe weather across large parts of the country, resulting in a delayed start to the workout season,” said Joe Fortunato, GNC president and CEO. “Recent trends have also been affected by an unusually significant amount of negative media, and year-over-year sales hurdles in the third-party diet and pre-workout categories. Based on our current information it looks like these recent trends will persist for the next few quarters.”
Roundy’s to sell 18 Rainbow stores
Minneapolis — Grocery retailer Roundy’s said it had entered into definitive agreements to sell 18 Rainbow stores in the Minneapolis/St. Paul market to a group of local grocers, including Supervalu.
The sale price is $65 million, and Roundy’s said it is seeking buyers for a remaining nine Rainbow stores so that it can fully exit the Minneapolis/St. Paul market.
The transaction is expected to close during the third quarter of this year.
Vitamin Shoppe profit flat in Q1; 60 stores on tap
North Bergen, N.J. — Vitamin Shoppe reported flat net income for the first quarter, at $20.5 million. Sales during the period grew 10.3% to $307.8 million, boosted by e-commerce strength, and same-store sales increased 3.6%.
“We are continuing to make investments in our omni-channel initiative to further enhance our customers overall experience," said Tony Truesdale, CEO.
The company opened nine stores in the quarter, including one in Canada. It said it plans to open 60 new stores in 2014.