In a release on
Fourth Quarter Performance
For the fourth quarter of 2013, the Company reported consolidated revenue of
Same store sales increased 5.0 percent in domestic company-owned stores (including GNC.com sales) in the fourth quarter of 2013 representing the Company's 34th consecutive quarter of positive same store sales growth. In domestic franchise locations, same store sales increased 3.3 percent.
For the fourth quarter of 2013, the Company reported GAAP net income of
In the fourth quarter of 2013, the Company's effective tax rate was 28.5 percent, reflecting a total of
The Company has reached a master franchise agreement with Rusvit for its market entry into
Fourth Quarter Segment Operating Performance
For the fourth quarter of 2013, retail segment revenue grew 7.8 percent to
For the fourth quarter of 2013, franchise segment revenue grew 9.4 percent to
For the fourth quarter of 2013, manufacturing/wholesale segment revenue, excluding intersegment revenue, increased 13.3 percent to
Total operating income for the fourth quarter of 2013 was
Full Year Performance
For full year 2013, the Company reported consolidated revenue of
For the full year 2013, the Company reported GAAP net income of
For the full year 2013, the Company opened 149 net new domestic company-owned stores, 192 net new international franchise locations, 63 net new domestic franchise locations, 34 net new
For the full year 2013, the Company generated net cash from operating activities of
The Company's Board of Directors declared a cash dividend of
In the fourth quarter of 2013, the Company repurchased
At the end of 2013, diluted shares outstanding were approximately 94.8 million.
Current 2014 Outlook
The Company's initial outlook for 2014 is based on current expectations and includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Below is the Company's initial outlook for 2014:
-Consolidated earnings per diluted share (EPS) of approximately
-A high single digit increase in consolidated revenue for the full year 2014. This is based on achieving a domestic company-owned same store sales result including the impact of GNC.com of flat for the first quarter of 2014 reflecting a very challenging January and February retail environment, and a mid single digit increase for the remainder of 2014.
-Tax rate of approximately 36.5 percent 37 percent for the full year 2014.
-Capital expenditures of approximately
-Depreciation & amortization of approximately
-New store expectations for the full year 2014: approximately 200 total net new domestic retail locations (including both company owned and franchised stores), approximately 200-225 net new international locations, and approximately 45 net new GNC-Rite Aid store-within-a-store locations.
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In a release on