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GNC Q2 profit leaps 42.5%

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Pittsburgh General Nutrition Centers reported Tuesday that net income for the second quarter ended June 30 was $25.6 million, compared with net income of $18 million for the year-ago period.

The nutrition retailer said its second quarter 2009 financial performance was negatively impacted by the May 2009 Hydroxycut product recall.

Consolidated revenue for the quarter rose 5.4%, to $455.9 million. Retail and franchise segment revenue increased by 8.2% and 5.5%, respectively, and declined in the manufacturing/wholesale segment by 13.5%.

Same-store sales improved 6.5% in domestic company-owned stores.

In second quarter 2010, the retailer said it opened 13 net new domestic company-owned stores, 1 net new company-owned store in Canada, 43 net new international franchise locations, and 49 net new franchise store-within-a-store Rite Aid locations, and closed nine net domestic franchise locations.

GNC currently operates more than 7,100 locations in the United States and 50 countries.

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