Comp down for Vitamin Shoppe in Q3

|About: Vitamin Shoppe, Inc. (VSI)|By:, SA News Editor

Vitamin Shoppe (NYSE:VSI) reports total comparable sales fell 1.9% in Q3.

Retail store comparable sales declined 2.3%.

E-commerce comparable sales rose 1.7%.

Segment sales: Retail: $270.76M (+0.2%); Direct: $30.32M (+3%); Manufacturing: $24.36M (+17.7%).

Gross margin rate squeezed 100 bps to 32.4% primarily due to occupancy and supply chain deleverage as well as lower gross margins for Nutri-Force.

Adjusted SG&A expense rate grew 20 bps to 25.6%.

Adjusted operating margin rate slipped 110 bps to 6.9%.

Store count +26 Y/Y to 774.

FY2016 Guidance: Total comp sales: flat to slightly negative; New stores: ~27; Adjusted EPS: $2.10 to $2.20; Capex: ~$40M.

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