Vitamin Shoppe, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 24, 2016; Provides Earnings Guidance for the Year 2016; Provides Tax Rate Guidance for the Fourth Quarter of 2016
For the nine months, the company reported net sales of $984,378,000 against $973,059,000 a year ago. Income from operations was $68,259,000 against $77,876,000 a year ago. Income before provision for income taxes was $61,282,000 against $77,361,000 a year ago. Net income was $36,578,000 against $47,039,000 a year ago. Diluted net income per common share was $1.51 against $1.59 a year ago. Adjusted diluted earnings per share were $1.72 against $1.72 a year ago. Capital expenditures were $31,228,000 against $30,172,000 a year ago.
For the year 2016, the company expects total comparable sales growth flat to slightly negative. The opening of 27 new stores GAAP fully diluted earnings per share narrowed to the range of $1.89 to $1.99 and adjusted earnings per diluted share in the range of $2.10 to $2.20 for the full-year of 2016. The company expects capital expenditures of approximately $40 million.
The company provided tax rate guidance for the fourth quarter of 2016. The tax rate is expected to be closer to prior year's rate in the fourth quarter.