Vitamin Shoppe's Stock Plummets To Record Low After Disappointing Results, Outlook

Shares of Vitamin Shoppe Inc. plummeted 28% to a record low in morning trade Wednesday, after the vitamin and specialty supplements retailer reported second-quarter profit and revenue that missed expectations, and provided a downbeat outlook. The stock was on track for its second-biggest-ever one-day decline, behind the 33% plunge on May 10, 2017 in the wake of first-quarter results. The company said before Wednesday's open that the second-quarter net loss was $156.4 million, or $6.73 a share, after a profit of $10.4 million, of 44 cents a share, in the same period a year ago. Excluding non-recurring items, such as $168.1 million in impairment charges, adjusted earnings per share of 23 cents missed the FactSet consensus of 39 cents. Revenue fell to $304.8 million from $332.7 million, missing the FactSet consensus of $314.7 million, as the same-store sales decline of 8.3% was more than expectations of a 6.1% decline. The company revised its 2017 same-store sales outlook to "negative mid-single digits" from the previous guidance of "negative low- to mid-single digits." Chief Executive Colin Watts said results were disappointing as the market environment "evolved more quickly than we anticipated particularly in the sports categories." The stock has tumbled 71% year to date, while the S&P 500 has gained 10%.