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Thursday, March 28, 2024

UPDATE: Vitamin Shoppe Posts Lower Q2 Profit

Courtesy of Benzinga.

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Vitamin Shoppe (NYSE: VSI) reported a 7.3% drop in its second-quarter profit and announced a $100 million share repurchase program.

The North Bergen, New Jersey-based company posted a quarterly profit of $16.9 million, or $0.55 per share, versus a year-ago profit of $18.3 million, or $0.60 per share. Excluding certain items, it earned $0.62 per share in the quarter.

Its sales increased 9.6% to $306.2 million from $279.5 million. However, analysts were expecting earnings of $0.63 per share on sales of $306.1 million.

Income from operations fell to $28.2 million, versus $30.6 million in the year-ago period.

Vitamin Shoppe’s comparable retail stores sales climbed 4%, while total same-store sales surged 5.1%. Its e-commerce sales also increased 14.9%.

Its selling, general and administrative expenses rose 12% to $74.7 million.

Tony Truesdale, Chief Executive Officer of the Company said, “Our products and marketing efforts resonated with consumers and drove traffic to both our stores and website. I am pleased that new customer growth contributed to another quarter of double-digit e-commerce growth for the company.”

Vitamin Shoppe shares gained 3.44% to close at $43.60 yesterday.

Posted-In: profitEarnings News Buybacks

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