Vitamin Shoppe Earnings: Sales Climb Double-Digits for Fifth Straight Quarter

Vitamin Shoppe, Inc. (NASDAQ:VSI) reported its results for the first quarter. Vitamin Shoppe, Inc. is a retailer and direct marketer of vitamins, minerals, herbs, supplements, sports nutrition and other health and wellness products.

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Vitamin Shoppe Earnings Cheat Sheet for the First Quarter

Results: Net income for Vitamin Shoppe, Inc. rose to $11.6 million (40 cents/share) vs. $8.7 million (31 cents/share) in the same quarter a year earlier. A rise of 32.8% from the year earlier quarter.

Revenue: Rose 13.2% to $216.9 million YoY.

Actual vs. Wall St. Expectations: VSI fell right in step with the street’s estimates of 40 cents/share.

Quoting Management: Tony Truesdale, Chief Executive Officer of the Company stated, “I am pleased with our first quarter operational results. We achieved strong comparable store sales combined with solid results in the direct channel. This represents our 22nd consecutive quarter of positive comparable store sales. We believe these results reflect the strong momentum of our businesses.”

Key Stats: The company has enjoyed double-digit year-over-year revenue growth for the past five quarters. Over that span, the company has averaged growth of 11.8%, with the biggest boost coming in the most recent quarter when revenue rose 13.2% from the year earlier quarter.

The company has now seen net income rise in three-straight quarters. In the fourth quarter of the last fiscal year, net income rose more than threefold and in the third quarter of the last fiscal year, the figure rose more than threefold.

Gross margins grew 0.8 percentage point to 34.7%. The growth seemed to be driven by increased revenue, as the figure rose 13.2% from the year earlier quarter while costs rose 11.8%.

Competitors to Watch: Vitacost.com, Inc. (NASDAQ:VITC), drugstore.com, inc. (NASDAQ:DSCM), Perfumania Holdings, Inc. (NASDAQ:PERF), China Nepstar Chain Drugstore Ltd. (NYSE:NPD), Graymark Healthcare Inc (NASDAQ:GRMH), Sally Beauty Hldgs., Inc. (NYSE:SBH), Rite Aid Corporation (NYSE:RAD), Walgreen Company (NYSE:WAG), PetMed Express, Inc. (NASDAQ:PETS), and Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA).

Today’s Performance: Shares of VSI are trading at $36.12 as of April 26, 2011 at 4:33 PM ET, flat from the previous closing price of $36.38.


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