Vitamin Shoppe Q2 Profit Down, Adj. EPS Misses View; Sees Higher Comps In FY14

(RTTNews) - Vitamin Shoppe, Inc. (VSI), a multi-channel specialty retailer of nutritional products, reported Tuesday lower profit in its second quarter, despite higher net sales.

Net income was $16.93 million or $0.55 per share, compared to $18.26 million or $0.60 per share in the prior year. The latest results included an estimated $0.07 per share of acquisition-related expenses, while the prior year results included an estimated $0.02 per share impact related to the Super Supplements acquisition offset by a $0.02 per share insurance recovery from Superstorm Sandy.

Excluding items, adjusted earnings per share was $0.62 in second quarter 2014, and $0.60 in second quarter 2013.

On average, 17 analysts polled by Thomson Reuters expected earnings of $0.63 per share for the quarter. Analysts' estimates typically exclude special items.

Total net sales in the second quarter increased 9.6 percent to $306.22 million from $279.48 million in the prior year. Analysts expected sales of $306.09 million.

Total comparable sales were 5.1 percent, including e-commerce sales.

Looking ahead for fiscal 2014, the company expects total comparable sales growth, including e-commerce, of 4 percent - 5 percent and EBIT margin decline of approximately 100 basis points.

Tony Truesdale, Chief Executive Officer, said, "Reflecting our solid financial position and sustainable cash generation, the Board recently authorized a $100 million share repurchase program."