GNC reports strong Q4; to open 180 stores in U.S. in 2013
Pittsburgh -- GNC Holdings is bullish on expansion. Reporting impressive results for the fourth quarter, the retailer plans to open approximately 150 net new U.S. stores in 2013, along with 30 net new domestic franchise locations, and 175-200 net new international franchise locations. It also will open 30 net new GNC-Rite Aid store-within-a-store locations.
GNC reported consolidated revenue of $565.0 million, an increase of 10.9% over consolidated revenue of $509.6 million in the previous year. Same store sales increased 7.1% in domestic company-owned stores (including GNC.com sales), representing the company's 30th consecutive quarter of positive same store sales growth.
Adjusted net income for the fourth quarter of 2012 was $49.8 million, an $11.5 million or 30.1% increase over adjusted net income of $38.3 million for the fourth quarter of 201
For the full year, the company reported consolidated revenue of $2,430.0 million, an increase of 17.3% over consolidated revenue of $2,072.2 million for the full year 2011. Same store sales increased 11.5% in domestic company-owned stores (including GNC.com sales). In domestic franchise locations, same store sales increased 15.0%.
For the full year, GNC reported net income of $240.2 million, compared with $132.3 million for 2011.
"2012 was a year of tremendous execution and financial performance across every segment of the business. We expanded our customer base, gained market share, improved operating margins, generated strong free cash flow and effectively returned capital to shareholders," said Joe Fortunato, chairman, president & CEO.
At year end 2012, GNC has more than 8,100 locations, of which more than 6,100 retail locations are in the United States (including 949 franchise and 2,181 Rite Aid franchise store-within-a-store locations) and franchise operations in 54 countries (including distribution centers where retail sales are made).