Vitamin Shoppe nearly doubles net income
This article was originally published in The Tan Sheet
Executive Summary
First-quarter net sales reach $191.6 million, up 11 percent, helping Vitamin Shoppe increase its net income 91.3 percent to $8.7 million. Diluted net income per share grew to 31 cents from 12 cents over first quarter 2009, Vitamin Shoppe said April 21. The North Bergen, N.J.-based company reported comparable same-store sales grew 6.2 percent, or $9.3 million, in the three months ended March 27, marking the 18 consecutive quarter of growth by that measure. Vitamin Shoppe, with 453 current locations, opened 16 stores in the January-March period and projects 42 total openings in 2010. Executive VP and Chief Financial Officer Michael Archbold said during a same-day earnings call that the firm projects mid-single-digit growth for comp-store sales for the year, with an expected degree of cannibalization as new locations open
You may also be interested in...
Prestige Expands UK Eye Care Range In Response To Consumer Demand
A “great consumer response” to TheraTears in the UK leads Prestige Consumer Healthcare to add TheraTears 5-in-1 Irritation and Redness eye drops to the range.
Who’s Hired? Hikma Recruits New US Generics President
A flurry of top level recruitments made headlines in the past weeks, with the likes of Hikma, Lupin, and Viatris announcing new hires while focusing on their targets for the year.
Organon And Henlius Complete Phase III For Denosumab
Having earlier this year reported positive Phase I data for their partnered denosumab biosimilar candidate, Organon and Shanghai Henlius Biotech have now announced that their HLX14 version has met primary endpoints in a Phase III study.