GNC Holdings Inc. and Vera Bradley Inc. were the latest retailers to announce furloughs and other measures to shore up their balance sheets amid store shutdowns caused by novel-coronavirus pandemic. GNC Holdings said late Friday it was temporarily furloughing a "significant portion" of its store and corporate employees. Those workers will maintain health benefits through at least this month, the retailer said. GNC put in place a hiring freeze and cut merit raises, among other cost-cutting moves across its businesses except digital, it said. Also late Friday, Vera Bradley said it would furlough most of its store employees and "certain" corporate employees effective Monday "until it is considered safe and advisable to reopen our stores." Some of the company's distribution-center employees were furloughed last week. "Our furloughed associates remain valued members of our Vera Bradley family, and we look forward to calling them back to work as soon as possible," the luggage and handbags retailer said. The employees on furlough will have benefits for up to 12 weeks, the company said. Vera Bradley is also reducing salaries, including a 75% pay cut for Chief Executive Rob Wallstrom, and temporarily cutting 401(k) company matches as well as charity donation matches, among other moves. Shares of Vera Bradley were flat in the after-hours session after ending the trading day down 2.1%
Only one local company has seen its share price increase since the market began to react to the realities of the COVID-19 pandemic.
GNC (GNC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Shelter-in-place orders have enterprises facing the unprecedented task of ensuring the connectivity and security of expanding boundless workforces that could potentially leave countless endpoints susceptible to cybercriminals attempting to capitalize on opportunistic threats.
John Tang, Esq., a long-term investor with significant holding of GNC Holdings, Inc. (NYSE: GNC) class A common stock and a group of individual GNC shareholders across the world announce the establishment of GNC Shareholder Advocacy Group ("SAG") to protect and promote the shareholder's interest.
GNC Holdings, Inc. (GNC) (the “Company”), today announced that it has received notice from the New York Stock Exchange (the “NYSE”) that the Company does not presently meet certain NYSE continued listing standards which require the Company to maintain a minimum average closing price of $1.00 per share over a period of 30 consecutive trading days, and an average market capitalization of at least $50 million over a period of 30 consecutive trading days, unless at the same time the Company’s total stockholders’ equity is equal to or greater than $50 million. As set forth in the notice, as of April 21, 2020, the 30 trading-day average closing share price of the security was $0.56, the 30 trading-day average market capitalization was approximately $47.3 million and its last reported stockholders’ equity as of December 31, 2019 was approximately $(207.3) million.
Investors need to pay close attention to GNC Holdings (GNC) stock based on the movements in the options market lately.
Net loss of $200.1 million for the first quarter of 2020, compared with net loss of $15.3 million for the first quarter of 2019; adjusted net loss of $11.0 million, compared.
Image source: The Motley Fool. GNC Holdings Inc (NYSE: GNC)Q1 2020 Earnings CallMay 11, 2020, 8:30 a.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorGood day everyone and welcome to the GNC Holdings, Inc First Quarter 2020 Earnings Call.
Shares of GNC Holdings (NYSE:GNC) were unchanged in pre-market trading after the company reported Q1 results.Quarterly Results Earnings per share were down 226.67% over the past year to ($0.19), which may not compare to the estimate of $0.06.Revenue of $472,581,000 lower by 16.32% from the same period last year, which missed the estimate of $475,500,000.Looking Ahead Earnings guidance hasn't been issued by the company for now.View more earnings on GNCRevenue guidance hasn't been issued by the company for now.Technicals Company's 52-week high was at $3.4252-week low: $0.38Price action over last quarter: Up 43.92%Company Description GNC Holdings Inc is a specialty retailer of health, wellness and performance products that include protein, performance supplements, weight management supplements, vitamins, herbs and greens, wellness supplements, health and beauty, food and drink and other general merchandise. It operates through company-owned retail stores, domestic and international franchise activities, third-party contract manufacturing, e-commerce, and wholesale partnerships. The company generates revenues from three segments: the United States which is the key revenue driver and Canada segment; International segment; and Manufacturing or Wholesale segment.See more from Benzinga * Pieris Pharmaceuticals: Q1 Earnings Insights * Recap: CONSOL Coal Resources Q1 Earnings * Ready Capital: Q1 Earnings Insights(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Investors need to pay close attention to GNC Holdings (GNC) stock based on the movements in the options market lately.
Q4 2019 GNC Holdings Inc Earnings Call
PITTSBURGH, May 07, 2020 -- GNC Holdings, Inc. (NYSE: GNC) will release results for the first quarter of 2020 before the market opens on May 11, 2020. A webcast and conference.
GNC (GNC) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
GNC (GNC) delivered earnings and revenue surprises of -416.67% and -0.61%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
GNC Holdings, Inc. (GNC) (the “Company”) today announced that as a result of the COVID-19 pandemic, the Company has had to make some difficult decisions in order to protect the long-term prospects for the business. The brand touches consumers worldwide by providing its products and services through company-owned retail locations, domestic and international franchise locations, digital commerce and strong wholesale and retail partnerships across the globe.
GNC Holdings Inc. shares rallied more than 18% late Friday after the health and nutrition retailer said it has reached a deal with its lenders to extend maturity dates on some of its loans. GNC said the debt in question featured maturities that were due next week if certain conditions were not met, and, due to the economic destruction caused by the pandemic, the company did not expect to satisfy the requirements. Maturities for the loans in question are extended through Aug. 10, subject to conditions that could cause the date to move to June 15, GNC said. "The company continues to explore all strategic options available to it to refinance and restructure its debt to drive business continuity and protect the long-term financial interests of the company and the interests of the company's key stakeholders," GNC said in a statement. Shares of GNC ended the regular trading day up 12%.
Tang PC investigates GNC's Board of Directors and Management for Possible Fraud and Breach of Fiduciary Duty
GNC Holdings, Inc. (GNC), a global health and wellness brand that helps people live well, announced today that it has reached an agreement with required lender groups to extend the springing maturity dates for certain loans. As previously disclosed, GNC’s Tranche B-2 term loan, FILO term loan and revolving credit facility feature springing maturities that, prior to today’s amendments, were to become due on May 16, 2020 if certain conditions were not satisfied. Due to COVID-19 related impacts on its business, the Company expected it would not be able to reduce the amount outstanding under the convertible notes to less than $50 million by May 16, a requirement to avoid the springing maturity.
All the operating segments of GNC Holdings (GNC) register significant year-over-year sales decline in Q1 on coronavirus-led business disruption.