Brocker.Org: GNC suspends dividends, earnings miss out on


GNC shares dropped Thursday right after the enterprise launched disappointing fourth-quarter results and suspended dividends.

Shares fell seven.two per cent to $seven.seventy two a share, down thirty per cent for the calendar year so far.

GNC claimed fourth-quarter earnings of $569.nine million as opposed to the Thomson Reuters consensus estimate of $ million. Adjusted earnings of seven cents a share have been nicely underneath the 34 cent forecast.

The nutritional supplements retailer also declared it would suspend quarterly dividend payouts as aspect of a plan to decrease debt.

Domestic enterprise-owned very same-store sales fell twelve per cent, even worse than the FactSet forecast of nine.6 per cent.

In December, GNC temporarily shuttered all of its U.S. locations to revamp its pricing method.