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Acquisition by private Franchise Group Inc. should be complete by year's end, supplements retailer says.

Victoria A.F. Camron

November 6, 2019

1 Min Read
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In what is expected to be its last earnings report as a public company, The Vitamin Shoppe Inc. announced Wednesday that its total sales dropped 8.5% in the third quarter.

The company released its earnings via press release and did not host a conference call to discuss them. The quarter ended Sept. 28.

For the third quarter, total sales were $253.1 million; comparable sales fell 7.7% compared to a year ago. Other results also were negative:

  • Net loss from continuing operations was $3.4 million, compared with net income of $1.9 million in Q3 2018.

  • Adjusted net income for the quarter was $0.0 million this year and $1.0 million a year ago.

On the positive side, the company's operating loss of $2.4 million was lower than the 2018 loss of $3.2 million. Gross profit rose slightly, to 31.8% from 31.3%.

The company closed two stores during the quarter and opened one; 764 stores were open at the end of the quarter.

In August, The Vitamin Shoppe announced via press release that it had agreed to be acquired by Liberty Tax Inc., which is now Franchise Group Inc. Under the agreement, Franchise Group will acquire all common shares for $6.50 each in cash.

The Vitamin Shoppe said the merger should be completed during the fourth quarter, but shareholders have not yet voted on the agreement.

Related:Sales, profit continue to fall at The Vitamin Shoppe despite improvement efforts

About the Author(s)

Victoria A.F. Camron

Digital content specialist, New Hope Network

Victoria A.F. Camron was a freelance writer and editor contracted with New Hope Network from 2015 until April 2022, when she was hired as New Hope Network's digital content specialist—otherwise known as the web editor.

As she continues the work she has done for years—covering the natural products industry for NewHope.com and Natural Foods Merchandiser; writing up earnings calls and other corporate news; and curating roundups of trends and information for the website—she is thrilled to be an official part of the New Hope team. (She doesn't mind having paid holidays and vacations again, though!) Victoria also compiled and edited newsletters, and served as interim content director for Delicious Living in 2016.

Before working as a freelancer, she spent 17 years in community newspapers in Longmont, Colorado, and St. Charles and Wheaton, Illinois. Victoria is a Colorado native and a graduate of Metropolitan State College of Denver.

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