Following the quarterly reports of other major supplement retailers, Bodybuilding.com and GNC, today the Vitamin Shoppe’s first quarter financial results have been posted. The report includes a handful of highlights as well as some strong explanations and information supporting a lot of the topics it touches on.
The points Vitamin Shoppe has highlighted comparing results to last year’s first quarter include a 20.7% increase in digital net sales, and a 3.2% decrease in total sales. The latter is said to be “primarily due to deleverage in supply chain and occupancy from lower sales, as well as additional investments in pricing and promotions. This was partially offset by improvements in margin from favorable category and mix shifts and lower costs through new vendor partnerships.”
Another interesting point mentioned in the first quarter report is that Vitamin Shoppe hasn’t opened any new locations, and closed only two. The company has also attached a statement from its CEO Colin Watts saying, “I am pleased with the consistent and steady improvement in the business as the initiatives we have executed are beginning to take hold. We saw an improvement in underlying sales trends, an increase in both new customer acquisition and traffic while also realizing ongoing product margin improvement.”
You can check out the Vitamin Shoppe’s first quarter financial results in their entirety at investors.vitaminshoppe.com.