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GNC Holdings profit soars in Q1
Pittsburgh -- GNC Holdings reported Wednesday that adjusted net income for the quarter ended March 31 surged 85% to $64.5 million, compared with $34.9 million a year earlier.
CEO Joe Fortunato attributed the results to double-digit retail same-store sales growth, a growth in proprietary new products and increased traffic.
Consolidated revenue for the quarter increased 23.4% to $624.3 million; same-store sales grew 15.8% in domestic company-owned stores (including GNC.com sales), and 18.4% in domestic franchise locations. -
Emilio Estefan brings Latin flare to Target
MINNEAPOLIS — Emilio Estefan, the Grammy Award-winning music producer and husband to Gloria Estefan, is working with Target in a unique partnership that will the retailer appeal to the Latin community in key markets.
According to Target, Estefan will work closely with the company to curate a special selection of his favorite music, movies and books titled “Emilio Estefan’s Picks” that will available at select stores beginning June 6. Target will also leverage Estefan's close ties with Latin artists to develop exclusive music deals.