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GNC Holdings (NYSE:GNC) reported second-quarter earnings of 13 cents per share, which beat the analyst consensus estimate of 12 cents by 8.33%. This is a 35% decrease over earnings of 2 cents per share from the same period last year.
The company reported quarterly sales of $534 million, which missed the analyst consensus estimate of $553.1 million by 3.45%. This is a 13.58% decrease over sales of $617.944 million the same period last year.
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“During the second quarter of 2019, although we experienced some softness in our sales, we delivered meaningful growth in our operating income margins consistent with our long-term strategy,” said Ken Martindale, GNC’s CEO. “The quarter represented solid progress towards our store optimization and cost savings initiatives. Recently, Ryan Ostrom joined us as Chief Brand Officer bringing extensive marketing and digital experience with industry leading brands. We are confident he will expand our omni-channel capabilities, and look forward to his leadership to grow our brand across the globe,” adds Martindale.
GNC shares are trading up 5.8% at $1.98 in Monday’s pre-market session. The stock has a 52-week high of $4.65 and a 52-week low of $1.32
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.