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GNC 2nd quarter revenues up 12% despite drop in company-owned store sales.

This article was originally published in The Tan Sheet

Executive Summary

GNC FRANCHISE STORES MAINTAIN SALES GROWTH DESPITE declining second quarter sales in company-owned stores, General Nutrition Companies reported Aug. 6. In the 12 weeks ended July 20, sales in company-owned stores dropped 4.4% while franchise comparable-store sales increased 4.5%. The company did not disclose overall retail sales. However, GNC reported that net revenues increased 12% to $217.8 mil. "driven by strong performance by the Franchising and Manufacturing divisions."
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