Sales & Earnings In Brief
This article was originally published in The Tan Sheet
Executive Summary
GNC: The specialty nutritional products retailer reports sales of its retail segment, which includes its domestic and Canadian corporate-owned locations and its online business, grew 6.3 percent to $314.5 million during its fiscal 2008 second quarter, driven by the vitamin and sports nutrition categories. In an Aug. 7 release, the Pittsburgh-based firm says it opened 13 domestic company-owned stores and closed or converted 13 during the April-June period. Revenues for General Nutrition Center's franchising segment advanced 8.6 percent to $65.1 million, while the manufacturing/wholesale division achieved sales growth of 28 percent to $43.1 million. Net sales increased 8.5 percent to $422.7 million and net earnings before interest, income taxes, depreciation and amortization grew 42.6 percent to $57.2 million, due to accounting adjustments taken in the same quarter last year. GNC is an indirect wholly-owned subsidiary of GNC Parent LLC, which was acquired last year by affiliates of Ares Management LLC and Ontario Teachers' Pension Plan Board (1"The Tan Sheet" Feb. 12, 2007, p. 9)...