GNC Holdings (GNC) Tops Q2 EPS by 1c; Guidance Suspended; CEO Resigns

GNC Holdings (NYSE: GNC) reported Q2 EPS of $0.79, $0.01 better than the analyst estimate of $0.78. Revenue for the quarter came in at $689.6 million versus the consensus estimate of $670.4 million.

Same store sales decreased 3.7% in domestic company-owned stores (including GNC.com sales) in the second quarter of 2016. In domestic franchise locations, same store sales decreased 6.6% in the second quarter of 2016.

Earnings guidance suspended for fiscal 2016

Earlier today, the Company also announced the appointment of Robert F. Moran as Interim Chief Executive Officer. Mr. Moran replaces Mike Archbold who is leaving the Company.

Mr. Moran commented, "Our results for the quarter were disappointing and we are focused on addressing those areas where we can drive a meaningful impact on the business in the shortest period of time. We clearly have work to do to reverse the current trends, but I am confident in our business and the GNC brand and I am committed to working closely with our talented team to deliver improved performance. As we do so, we will continue the previously announced comprehensive review of strategic and financial alternatives."

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

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