GNC Holdings (GNC) Reports In-Line Q1 EPS, Updates Guidance

GNC Holdings (NYSE: GNC) reported Q1 EPS of $0.76, in-line with the analyst estimate of $0.76. Revenue for the quarter came in at $677.3 million versus the consensus estimate of $695.89 million.

Same store sales decreased 0.7% in domestic company-owned stores (including GNC.com sales) in the first quarter of 2014.

GNC Holdings sees FY2014 EPS of $3.05-$3.10, versus the consensus of $3.2.

Key assumptions underlying the full year EPS guidance are as follows

A mid single digit increase in consolidated revenue. This is based on achieving a domestic company-owned same store sales result – including the impact of GNC.com – of flat to a low single digit increase for the remainder of 2014; in the second and third quarter this is on a product-only basis as compared to 2013.
Modest full year consolidated Gross Profit margin expansion, as the benefit of anniversarying investments associated with launching the Member Pricing program in 2013 are partially offset by 2014 strategies to respond to anticipated competitive marketplace trends in this challenging sales environment.
Continued regulatory and macro-economic challenges in our international franchise business.

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

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