Vitamin Shoppe (VSI) Tops Q1 EPS by 5c, Revenues Miss; Provides FY19 Operating Outlook

Vitamin Shoppe (NYSE: VSI) reported Q1 EPS of $0.21, $0.05 better than the analyst estimate of $0.16. Revenue for the quarter came in at $283.3 million versus the consensus estimate of $294.2 million.

Commenting on the quarter\'s results, Sharon Leite, Chief Executive Officer stated, "Our first quarter results were in line with our expectations and reflect continued progress on executing our reinvention plan and re-building our business. During the quarter, we made significant progress across a number of initiatives to better position the Vitamin Shoppe in the second half of the year and beyond. Importantly, we are encouraged by the progress we are making on our strategic initiatives, growing our private brands business, expanding into a wholesale model, improving our execution while reducing our costs."

"With our new leadership team in place, we are taking bold steps to meet our customers' needs and accelerating our strategic initiatives to realize our most attractive opportunities. We remain focused on driving efficiencies through productivity and making disciplined investment decisions to drive growth. While there is still more work to do, we remain confident that we have the right plans in place and are committed to advancing our strategy to regain top-line growth and grow profitability. As we continue our turnaround efforts, we remain focused on delivering our full-year outlook," concluded Ms. Leite.

2019 Outlook

Based on first quarter performance, the Company is updating total comparable sales guidance for 2019. All other guidance for the key levers that drive the business are unchanged. The Company expects:

• Full year comparable sales of negative mid to low single digits
• Reported full year gross margin rate of 31.7% to 32.2%.
• Adjusted EBITDA of $62 million to $65 million.
• Estimated combined Federal, State and Local tax rate of 28%.
• Full year capital expenditures of approximately $33 million, and includes the opening of approximately 10 new stores.
• Closing approximately 60 to 80 stores over next three years

For earnings history and earnings-related data on Vitamin Shoppe (VSI) click here.

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