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GNC says bad press took a bite out of Q1 results
GNC’s profit slid in the first quarter, but although the company said that severe weather during January and February affected its financial results, it also pointed to an “unusually significant amount” of negative media as a driving factor for the dip.
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GNC Holdings profit slides in Q1
Pittsburgh -- GNC Holdings reported that net income for the quarter ended March 31 dipped to $69.9 million, from $72.6 million in the year-ago period.
Retail revenue grew 3.1% to $509.0 million, compared to $493.5 million for first quarter 2013, driven primarily by strength from the e-commerce sector. Consolidated revenue edged up 1.9% to $677.3 million. Same-store sales decreased 0.7%.