The third quarter of 2010 has been a success for Vitamin Shoppe, with a 7.1 percent increase in store sales, and a gross profit of $61.2 million.
According to preliminary results, the gross profit increased $8.8 million for 3Q10, up 16.8 percent on the $52.4 million the company posted in 3Q09.
The company, which opened seven stores during the quarter bringing its total to 472, said that gross profit was 32.6 percent as a percentage of sales, compared with 31.1 percent for 3Q09, while sales, general and administrative expenses increased 8.9 percent to $47.3 million.
"The third quarter marked another strong period of growth, with all areas of the business contributing to the overall success," said Rick Markee, chairman and CEO of Vitamin Shoppe. "This has been a year of tremendous improvement following our initial public offering at the end of October 2009. We are well on our way toward our long-term objectives of 10 percent EBIT margin and 900 stores in the United States."