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GNC Holdings (GNC) Misses Q2 EPS by 2c; Guides Lower

July 29, 2014 8:03 AM EDT

GNC Holdings (NYSE: GNC) reported Q2 EPS of $0.77, $0.02 worse than the analyst estimate of $0.79. Revenue for the quarter came in at $675.2 million versus the consensus estimate of $706 million.

GNC Holdings sees FY2014 EPS of $2.85, versus the consensus of $3.03.

Joe Fortunato, Chairman, President & CEO, said, "Our second quarter results reflect a difficult environment with widespread retail traffic challenges, a slower industry growth rate, and a tough anniversary of our very successful chain-wide Member Pricing launch. These pressures were compounded by our increased dependence on bundled-product promotions and a lack of third-party product innovation. To address this we will continue to drive marketing through the launch of our dunnhumby efforts this quarter, and transition of our Beat Average campaign from branding to an emphasis on GNC's superior products. We will also focus squarely on improving our overall positioning with more exclusive vendor relationships, streamlined pricing and event-driven promotions, the combination of which we expect will correspond to an elevated product value position. We expect to see progress on these efforts as the year progresses."

For earnings history and earnings-related data on GNC Holdings (GNC) click here.



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