Vitamin Shoppe reports flat Q3 net income; 60 stores on tap for 2014
North Bergen, N.J. – Vitamin Shoppe reported net income of $16.3 million during the third quarter of fiscal 2013, flat with the same quarter in the prior year. The retailer also reported a 14% increase in total net sales, to $272.5 million from $239 million, as well as a 2.6% jump in same-store sales.
Integration costs from the company’s acquisition of the Super Supplements chain earlier this year and a 15% increase in cost of goods sold negatively impacted net income totals, while sales increases were driven by higher same-store sales, the addition of $17 million in Super Supplements sales, higher sales in stores open less than a year, and a roughly 18% increase in e-commerce sales.
The company opened 10 stores in the quarter and 33 year-to-date. The majority of the third quarter store openings occurred late in the quarter. Total store count was 640 as of September 28, 2013, compared with 564 on September 29, 2012. For fiscal 2014, Vitamin Shoppe predicts it will open about 60 new stores and have mid-single-digit same-store sales growth.
“We delivered our 32nd consecutive quarter of positive comparable retail store sales growth and experienced improving traffic trends throughout the quarter,” said Tony Truesdale, CEO of Vitamin Shoppe. “We opened a new 311,000-sq.-ft. distribution center in Ashland, Va., and continued to successfully integrate Super Supplements, the largest acquisition in the company’s history."
Dunkin’ Donuts plans 12 new Detroit-area stores
Canton, Mass. – Dunkin’ Donuts has signed a multi-unit store development agreement with three existing franchise groups to develop 12 new restaurants in Detroit during the next several years. Existing franchise group Coffee Ventures, LLC plans to develop seven restaurants in suburban Detroit between 2014 and 2017, while existing Detroit franchisees Tarun and Falguni Raval plan to develop one restaurant in Detroit in 2014 and existing Detroit franchisees Nick and Masoud Shango plan to develop four restaurants in Detroit between 2014 and 2016.
Detroit is currently home to 53 restaurants and Dunkin’ Donuts is pursuing opportunities to further develop the market with both existing and new franchisees. Dunkin’ Donuts’ new look includes four distinct restaurant design options for franchisees, each featuring variations in layout, color schemes, graphics, textures, furniture and/or lighting. Dunkin’ Donuts allows franchisees to select individual elements from any of the four options, creating a restaurant design that reflects their personal tastes and preferences, and best serves their specific restaurant size and location.
Dick’s Sporting Goods powers ESPN online fan site
Pittsburgh – Dick’s Sporting Goods and ESPN have entered a multi-year agreement in which Dick’s will serve as the exclusive e-commerce provider of licensed merchandise and sporting goods on ESPN.com and related digital properties.
As a result of the new agreement, fans will now be able to shop an expanded range of licensed fanwear available at the rebranded ESPN Fan Shop powered by Dick’s Sporting Goods. Contextually integrated shopping opportunities will be featured across ESPN platforms in the near future, including ESPN.com, ESPN The Magazine, ESPN Radio and mobile properties like ScoreCenter, GameCast and WatchESPN.
Dick’s and ESPN are building on an existing marketing partnership that includes sponsorship of ESPN sports coverage and original programming content.
"This groundbreaking collaboration with ESPN blends sports content and commerce, solidifying Dick’s as the premier destination for licensed product," said Lauren Hobart, senior VP & chief marketing officer, Dick’s Sporting Goods. "Dick’s is excited about this dynamic multichannel approach, which includes traditional and non-traditional marketing and e-commerce, to better serve the needs of athletes and fans everywhere."