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In Brief: General Nutrition Companies

This article was originally published in The Tan Sheet

Executive Summary

General Nutrition Companies: Will spend $60 mil.-$80 mil. to repurchase about 300 of its 1,268 franchise GNC stores over the next 15 months, the specialty retailer announces Oct. 22. GNC says it is buying back the stores because "these are good, proven locations and it is an effective use of...excess free cash flow." GNC has about 2,000 company-owned stores. The retailer expects the purchase to have a "positive but not material" effect on fourth quarter results. The company's consolidated sales were up 22% to $266 mil. in the second quarter (ended July 19); net earnings rose 38% to $23 mil. ("The Tan Sheet" Aug. 11, p. 13)...
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