Today Pittsburgh headquartered GNC reports the opening of 296 stores and projected 22-24 percent increases to earnings per share (EPS) for the year. In their current report filed today with the SEC for the third quarter of 2013, GNC opened 296 stores in 2013: 108 new company-owned domestic stores, 124 new franchise stores, 35 new domestic franchise stores, 25 new Rite Aid stores, three new company owned stores in Canada and one new company-owned store in China. GNC acquired A1 Sports Limited in the fourth quarter. In their forward looking statements, GNC projects EPS for the year to be between 2.85 and 2.89 resulting in an increase of 22-24 percent from the 2012 EPS of $2.33.
Today GNC filed their current report with the SEC for the third quarter of 2013. In the current report, GNC reports increases in EPS, net income and revenue are reflected. GNC is paying a cash dividend of 15 cents per share for the fourth quarter to investors on record by December 13, 2013. The company is performing better in the stock market this year with a stock market price average of 45.37 at three weeks into the fourth quarter compared to last year’s 12 month average of 35.76.
GNC (NYSE:GNC) is on track to surpass the fourth quarter of 2012 already averaging a market price of 55.03 compared to the 2012 fourth quarter average of 36.13. As a global health and wellness company, GNC operates in three segments: retail; franchising; manufacturing/wholesale. Net Income rose in the third quarter from 62 to 73 million and for nine months ending in the third quarter from 193 to 217 million.
For operating performance of the third quarter, total operating performance increased by 13.3 percent: retail segment revenue grew 9.5 percent (445 million to 487 million); franchising revenue grew 9.3 percent (108.8 to 118.9 million), and wholesale/manufacturing revenue grew 2.4 percent (67.8 to 69.5 million). For year to date performance of nine months ending September 30th, total operating performance increased 8.1 percent: retail segment revenue grew 8.0 percent, franchising revenue grew 7.5 percent and wholesale/manufacturing revenue grew 10.3 percent.
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Mr Olympia Phil Heath representing bodybuilding in promoting the sport at several GNC venues culminating in guest posing at the 2013 IFBB Pittsburgh Pro along with his peers and competitors.