Health, Beauty And Wellness News: Vitamin Shoppe Trims Loss, GNC Closes Hayao Pact, AlchemLife In US

Time is of the essence for [Vitamin Shoppe Inc.]to return to showing a profit, but investors showed they could be checking their clocks as the nutrition, health and wellness manufacturer and retailer's 2018 third-quarter results set off a nearly 15% slide in its share price on Nov. 7. "We need to expeditiously turn this business around and we will," said CEO Sharon Leite during her first earnings briefing at the Secaucus, N.J.-based firm's helm. "Much of what I've learned in my short time here is that our wounds are self-inflicted and can be overcome Progress has been made, which is evident by the more recent results of the company. However, we will be intensifying our turnaround efforts," Leite added. The firm's progress was trimming its reported net loss to $1.7m from an $86.2m loss in the year-ago period, and its loss per share to 7 cents from a $3.72 per-share loss. Its $276.6m in total sales was down 2% but comparable net digital sales, which includes its own and other websites and its Spark subscription auto-delivery program increased 22.1%. Digital sales should become the firm's chief sales driver, Leite said. "There also is our need to be able to live in a digital world, which is why we are making the changes in the organization to make sure we can compete there," she said.

Leite had been president of Godiva Chocolatier Inc. in North America before she joined Vitamin Shoppe in August, with a board seat, too, to replace Colin Watts, whose strategies to boost sales failed to deliver results satisfactory to the board. Watts' also prioritized growing digital sales, and launched Spark, but his even greater attention to traditional retail stores perhaps was mis-placed as the firm has increased its number of planned store closing this year from 10 to 14 after closing three and opening one in the July-September period. Vitamin Shoppe reported 2017 net sales down 8.5% to $1.2bn for a net loss of $252.2m and $10.90 per share, after reporting net income of nearly $25m and $1.05 per share in 2016