GNC Holdings Inc (NYSE:GNC) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.70%.
GNC Holdings Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 21.67% to $0.73 in the quarter versus EPS of $0.60 in the year-earlier quarter.
Revenue: Rose 6.48% to $664.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: GNC Holdings Inc reported adjusted EPS income of $0.73 per share. By that measure, the company beat the mean analyst estimate of $0.72. It missed the average revenue estimate of $674.39 million.
Quoting Management: Joe Fortunato, Chairman, President & CEO, said “2013 is positioned to be an exciting and transformational year as we make key investments in the business. In the first quarter, we demonstrated our ability to deliver results even while facing the most challenging compare of the year. Our 2013 product development cycle is on track, as is our pipeline for 2014. Further, we invested an incremental $3 million in brand marketing to reach a broader consumer base with the ‘Respect Yourself’ message as we approach launch of our Member Pricing program. These initiatives continue to fuel our retail business, which carried top line momentum from 2012 through January of this year. And while February was not as strong as expected – similar to others in specialty retail – March trends rebounded, especially later in the month, with the improvement continuing into April. Lastly, we are excited about the rollout of our Member Pricing program to further enhance the business.”
Key Stats (on next page)…