Shares of GNC Holdings Inc.
rose 31% after the vitamin and nutrition company reported first-quarter earnings that were above Wall Street’s expectations. Net income came in at $23.9 million, or 35 cents per share during the quarter, compared with $50.8 million, or 69 cents per share during the same quarter last year. Adjusted earnings were 37 cents per share, which was above FactSet’s consensus for 34 cents. Revenue hit $644.8 million during the quarter, a drop off from last year’s $668.9 million during the same quarter, but better than FactSet’s $623.0 million consensus. GNC same store sales decreased 3.9% during the quarter, which was a wider decline compared with the year-earlier period when same store sales declined 2.3%. Domestically, same store sales decreased 4.6% during the first quarter. Shares of GNC have declined more than 34% in the year to date and nearly 78% over the last 12 months. The S&P 500 index
has gained nearly 5% in the year and more than 12% over the prior 12-month period.