GNC Holdings (GNC) Misses Q1 EPS by 25c, Revenues Miss

GNC Holdings (NYSE: GNC) reported Q1 EPS of ($0.19), $0.25 worse than the analyst estimate of $0.06. Revenue for the quarter came in at $472.6 million versus the consensus estimate of $475.5 million.

• Net loss of $200.1 million for the first quarter of 2020, compared with net loss of $15.3 million for the first quarter of 2019; adjusted net loss of $11.0 million, compared with adjusted net income of $19.0 million in the first quarter of 2019
• U.S. company-owned same store sales, which includes e-commerce sales, decreased 10.1% compared with the first quarter of 2019; excluding the impact of the COVID-19 pandemic, U.S. company-owned store sales decreased 4.4%
• Approximately 1,100, or 30%, of the U.S. and Canada company-owned and franchise retail stores were closed due to the COVID-19 pandemic as of March 31, 2020

“As people around the globe cope with the COVID-19 outbreak, GNC’s mission has never been more clear,” said CEO Ken Martindale. “While this unprecedented situation has significantly disrupted our business and required us to make difficult decisions, we are focused on supporting customers with high quality products through our strong e-commerce channels and new buy-online-ship-from-store and curbside pickup services. Our transformation into a true omni-channel brand continues and we are working diligently to reposition and restructure our business for the future."

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

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