Vitamin Shoppe rockets up after huge earnings beat

Business


Shares of Vitamin Shoppe soared nearly 30 percent on Wednesday, after the company reported better-than-expected earnings for its second quarter.

The nutritional supplement company reported adjusted earnings of 31 cents per share versus the 5 cents per share consensus estimate from analysts, according to Thomson Reuters.

Vitamin Shoppe’s digital commerce sales increased 37 percent, however its same store sales fell 1.1 percent contributing to its total sales fall of 1 percent in the quarter, compared to last year.

Alex Smith, the Chairman of the Vitamin Shoppe stated, “Our focus on retail fundamentals is starting to deliver improved performance. In the second quarter we saw improvement across all key metrics including: comp sales, customer acquisition and product margin.”

Vitamin Shoppe also announced last month the appointment of Sharon Leite as the company’s new CEO.



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