GNC Holdings LLC

GNC Holdings Inc. on Thursday posted dismal results for its fourth quarter and said it was suspending its quarterly dividend in a move to reduce its debt.   The nutritional supplements retailer posted a loss of $433.4 million, or $6.35 a share, compared to a profit of $42.9 million in the year-ago period. Excluding certain items, earnings came in at 7 cents per share, well below the 36 cents that Wall Street analysts expected.  

GNC Holdings reported a quarterly dividend of 20 cents per share.   The dividend will be paid on Dec. 30.   The specialty wellness retailer operates more than 9,000 locations in approximately 50 countries.  

GNC Holdings on Thursday replaced its chief executive and suspended its earnings guidance. It also reported disappointing second quarter results.     The company has appointed former PetSmart chief executive Robert F. Moran as interim CEO, effective immediately. Moran, a director of GNC, replaces Michael G. Archbold, who has also resigned from the GNC board.  

GNC Holdings Inc. announced Monday it is undertaking a strategic review whose options could include a sale of the company.

The health-and-wellness retailer said it is also considering accelerated refranchising strategies, partnerships and other collaborations, and capital structure optimization. The announcement comes on the heels of disappointing first quarter results.

Pittsburgh – GNC Holdings Inc. is making moves to both buy stock and sell convertible notes.

The retailer has authorized a multi-year program to repurchase up to $500 million of its Class A common stock.

The authorization is in addition to the company's previous authorization, which currently has $242 million remaining. The repurchases are expected to take place during the next 24 months with the amount and timing determined by GNC.

Pittsburgh – GNC Holdings Inc. missed Wall Street expectations for profit and revenue in a generally disappointing second quarter of fiscal 2015. GNC reported net income of $67.4 million, a decrease of 4% from $69.9 million for second quarter 2014.

Cost of sales increases were a key factor in reduced net income. GNC reported consolidated revenue of $678.5 million, an increase of 0.5% as compared with $675.2 million. Revenue growth was limited by a 2.8% same-store sales drop in company-owned stores, including GNC.com.

Pittsburgh – GNC Holdings Inc. demonstrated some weakness during the first quarter of fiscal 2015 with shrinking profit and revenue. Net income dropped 9% to $63.27 million from $69.9 million a year earlier, driven by rising selling, general and administrative (SG&A) expenses.

Net revenue fell slightly to $670.25 million from $674.46 million. Same-store sales decreased 4.1% in domestic company-owned stores (including GNC.com sales). In domestic franchise locations, same-store sales decreased 1.5%.

Petco has filled two key executive roles as it continues to build a team to successfully execute key strategic initiatives.

The company has named Michael M. Nuzzo as EVP and chief financial officer and Michael W. Zuna as SVP and chief marketing and digital officer.