Vitamin Shoppe Beats Sales Estimates, Misses Earnings

Vitamin Shoppe (NYSE: VSI) released its Q2 results before the open on Wednesday. Earnings per share came in below Wall Street consensus expectations, however shares traded up 2.55 percent due to the company's beat on sales estimates. Vitamin Shoppe reported EPS of $0.55 and revenues of $332.7 million. Analyst consensus had an EPS estimate of $0.59 and revenues of $331.6 million. "First quarter results reflect growth in ecommerce sales and improvement in gross margins partially offset by lower retail comparable sales growth. During the quarter we made considerable progress with our reinvention plan as we rolled out some key initiatives which include: an improved loyalty program, new customer acquisition tools and buy online/pick up in store capabilities" stated Colin Watts, CEO."In order to help fund our initiatives, we engaged a consulting firm to help us identify opportunities to improve margins and reduce costs. We are in the early stages of introducing many new and exciting initiatives to enhance our overall customer experience, which we expect will start delivering benefits as the year progresses" stated Watts.

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.

ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!

Share Buybacks"We continued with our share buyback program, re-purchasing 1.7 million of our common shares, or 6% of the shares outstanding, in the quarter," noted Watts.

Guidance

Company management saw FY16 EPS at $2.10-$2.30 vs. $2.32 estimates. At the time of writing, Vitamin Shoppe traded at $29.00 in Wednesday's pre-market session, up 2.55 percent.