GNC Holdings Inc. said it's making progress in a turnaround, as the nation's largest vitamin and supplement retailer posted an increase in same-store sales at the end of last year.
It was the first quarterly boost in same-store sales in two years for the Downtown-based company, which has struggled since the beginning of 2014 with poor performance at its stores.
Same-store sales results are an important measurement of a retailer's health because they discount the increase that accompanies store openings.
The positive result marks a key moment for CEO Mike Archbold, who was hired in August 2014 to turn around slumping sales and boost profitability at GNC. In a company statement, Archbold said domestic same-store sales increased 0.8 percent in the fourth quarter as company-owned stores showed improved performance.
“We are pleased with our finish to 2015, which is a reflection of the continued progress we are making in executing GNC's strategic evolution,” he said.
Archbold said the company expects adjusted net income in the fourth quarter to be on “the high end” of a previous prediction of $2.87 to $2.92 per share.
“We remain focused on driving improved top and bottom line results, providing quality products for our customers and delivering enhanced shareholder value,” he said.
The retailer will release full financial results for the fourth quarter Feb. 11.
Its stock closed up 6 percent Wednesday, or $1.47, to $25.03.
Alex Nixon is a Tribune-Review staff writer. Reach him at 412-320-7928 or anixon@tribweb.com.
