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Vitamin Shoppe Beats Sales Estimates, Misses Earnings

Vitamin Shoppe Inc VSI released its Q2 results before the open on Wednesday. Earnings per share came in below Wall Street consensus expectations, however shares traded up 2.55 percent due to the company's beat on sales estimates.

Vitamin Shoppe reported EPS of $0.55 and revenues of $332.7 million. Analyst consensus had an EPS estimate of $0.59 and revenues of $331.6 million.

"First quarter results reflect growth in ecommerce sales and improvement in gross margins partially offset by lower retail comparable sales growth. During the quarter we made considerable progress with our reinvention plan as we rolled out some key initiatives which include: an improved loyalty program, new customer acquisition tools and buy online/pick up in store capabilities," stated CEO Colin Watts.

"In order to help fund our initiatives, we engaged a consulting firm to help us identify opportunities to improve margins and reduce costs. We are in the early stages of introducing many new and exciting initiatives to enhance our overall customer experience, which we expect will start delivering benefits as the year progresses," stated Watts. "We continued with our share buyback program, re-purchasing 1.7 million of our common shares, or 6% of the shares outstanding, in the quarter."

Company management saw FY16 EPS at $2.10-$2.30 vs. $2.32 estimates.

At time of writing, Vitamin Shoppe traded at $29.00 in Wednesday's pre-market session, up 2.55 percent.

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