Why GNC Shares Got Crushed Today
Shares of GNC Holdings (NYSE: GNC) have gotten crushed today, down by 11% as of 11:30 a.m. EDT, after the company reported third-quarter earnings. The supplement retailer missed analyst expectations on the bottom line.
Revenue in the third quarter totaled $609.5 million, down from $628 million a year ago. Same-store sales rose 1.3% at domestic company-owned stores, although comps at domestic franchise locations fell 1.7%. Adjusted earnings per share came in at $0.32, which was shy of the consensus estimate of $0.33 per share in adjusted profits. GNC estimated that Hurricanes Harvey, Irma, and Maria adversely impacted profitability by approximately $0.02 per share.
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Source: Fool.com
