Vitamin Shoppe reports record results10 August 2012
US supplements retailer Vitamin Shoppe has booked a record second quarter as gross profit surged 16.3% to $85.8 million.
Vitamin Shoppe also reported a 35.9% boost in operating income $27.7 million during the quarter ending 30 June and net sales were up 13.4% to $245 million.
Tony Truesdale, Vitamin Shoppe’s chief executive said that the firm had shrugged off the DMAA controversy and successfully grown sports nutrition sales. The retailer also benefited from an 8.3% increase in comparable store sales, growth from new stores, and a 20.3% increase in e-commerce sales.
“Our top line growth was driven by continued strong retail performance with positive comparable store sales and solid e-commerce sales. The strength of our sales performance is supported by disciplined merchandising, knowledgeable Health Enthusiasts and superior execution," said Truesdale.
The firm said that its selling, general and administrative expenses increased 8.9%, to $58.1 million during the period.
Vitamin Shoppe said that it will open 52 new stores in the current financial year and deliver mid-single digits for the remainder of the year. The firm has also identified continued improvement in operating income margin as a key priority.
“Looking ahead, we have many opportunities to continue to fuel our long-term growth. These include; expanding our store base, introducing new products, international expansion and continuing to grow e-commerce,” added Truesdale.
“We also have the operational and financial discipline to continue to manage our business to ensure we deliver profitable growth."
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