FINANCE

GNC profit near doubles in Q2

BY Staff Writer

Pittsburgh — GNC Holdings reported Thursday that net income for the quarter ended June 30 nearly doubled to $66.7 million, compared with $36 million for second quarter 2011.

Consolidated revenue increased 19.4% to $619.1 million, and same-store sales increased 12.9% in domestic company-owned stores, representing the company’s 28th consecutive quarter of positive same store sales growth.

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FINANCE

Fifth & Pacific narrows Q2 loss

BY Staff Writer

New York — Fifth and Pacific Cos. reported Thursday that it narrowed its loss in the second quarter to $52.1 million, compared with a loss of $89.9 million in the same period last year. Results, which beat Wall Street expectations, were boosted by strong sales from the Kate Spade and Lucky Brand banners.

The company that was formerly known as Liz Claiborne Inc. saw net sales fall 6.5% to $336.9 million in the quarter, which still beat analysts’ forecasted $330.8 million.

Lucky Brand sales rose 15% to $112 million and Kate Spade sales jumped 48% to $101 million. But Juicy Couture sales fell 10% to $105 million.

The company sold the Liz Claiborne brand to J.C. Penney Co. last November and officially changed its name to Fifth & Pacific in May.

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FINANCE

Tractor Supply Q2 profit, sales rise

BY Staff Writer

Brentwood, Tenn. — Farm and ranch store chain Tractor Supply Co. reported Wednesday that net income for the second quarter rose 17% to $106.6 million, compared with $91.2 million in the same period last year.

Sales increased 9.6% to $1.29 billion, just missing Wall Street’s expected $1.30 billion in sales.

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