- Vitamin Shoppe (NYSE:NYSE:VSI) reports total comparable sales rose 1.6% in Q2.
- Retail store comparable sales grew 0.8%.
- E-commerce comparable sales expanded 9.4%.
- Segment sales: Retail: $288.29M (+3.6%); Direct: $32.77M (+8%); Manufacturing: $20.78M (-15.8%).
- Gross margin rate fell 120 bps to 32.4% due to lower product margins as a result of greater promotional activity and loyalty redemptions, occupancy deleverage and weaker performance at Nutri-Force.
- Adjusted SG&A expense rate +20 bps to 25.2%.
- Adjusted operating margin rate dropped 130 bps to 7.2%.
- Store count +37 Y/Y to 771.
- FY2016 Guidance: Total comp sales: flat to slightly negative; New stores: ~30; Adjusted EPS: $2.10 to $2.30; Capex: ~$40M.