GNC Holdings Inc (GNC) stock plummeted on Thursday after it released its Q1 2016 earnings report.
GNC Holdings reported EPS of 74 cents for Q1 2016, which just missed analysts’ 75-cent estimate. It’s revenue came in at $668.9 Million, which is slightly above the $667.8 million that Wall Street was expecting.
GNC also reported that domestic same-store sales were down 2.6% for company-owned stores. Domestic stores operated by franchisees saw same-store sales decrease by 5.6% during the quarter. It also announced that it will sell 84 of its own stores to a single franchisee.
GNC Holdings also decreased its EPS expectations for 2016 to between $2.80 and $2.90 from $3.15 to $3.35. Analysts are excepting the company to report EPS of $3.25 for 2016.
GNC shares were down 27% as of Thursday morning.
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