New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 14, 2014
10:42 EDTGNC, VSI, VITCGNC Holdings plummets after profit outlook disappoints
Shares of GNC Holdings (GNC), a health and wellness products retailer, are plunging after the company’s fourth quarter results missed estimates and it forecast much weaker than expected full year profit. WHAT'S NEW: Last night, GNC Holdings reported Q4 adjusted earnings per share of 63c and revenue of $613.7M, compared to expectations of 64c and $631.5M, respectively. Same store sales increased 5.0% in domestic company-owned stores in Q4. In domestic franchise locations, same store sales increased 3.3%. WHAT’S NOTABLE: The company forecast fiscal 2014 profit of $3.18-$3.25, far below consensus of $3.46. GNC expects a high single digit increase in consolidated revenue for 2014, compared to consensus of $2.9B. In issuing its guidance, the company noted it saw a “very challenging” retail environment in January and February. ANALYST REACTION: This morning, analyst commentary was mixed. Wells Fargo and Jefferies lowered their respective price targets on the shares following the company's weaker than expected Q4 results and outlook. Conversely, JP Morgan said the pullback in the shares represented a buying opportunity. Though JP Morgan lowered its price target for shares to $58 from $62, the firm kept an Overweight rating on GNC. PRICE ACTION: In morning trading, GNC Holdings dropped $6.61, or 12.6%, to $45.78 on nearly six times its average daily trading volume. Despite today’s slide, the stock has gained approximately 15% over the past twelve months. OTHERS TO WATCH: Other companies that offer health and wellness products include (VITC) and Vitamin Shoppe (VSI).
News For GNC;VITC;VSI From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
There are no results for GNC;VITC;VSI

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use