NORTH BERGEN, N.J. Vitamin Shoppe on Thursday posted a 12.3% lift in sales for its second quarter ended June 26. Sales reached $192.2 million.
"2010 started strong and that momentum continued into the second quarter," stated Rick Markee, Vitamin Shoppe chairman and CEO. "Comparable-store sales for the second quarter of 2010 increased 8.6%, making this our 19th consecutive quarter of comparable same-store sales growth," he said.
Much of that same-store sales performance can be attributed to the maturing of the retailer's store base, Markee told analysts Thursday morning. Approximately 40% of the Vitamin Shoppe store base is less than four years old, he said. However, mature stores are experiencing positive comps as well, he added.
The company operated 463 stores as of June 26, compared with 425 stores in the same quarter last year.
In an update on its 2010 outlook, Vitamin Shoppe expected to now spend approximately $22 million in total capital expenditures, which should bring the new store count for the year to 46 from 42.
The company expected comparable-store sales growth for the remainder of the year in line with industry growth in the mid-single digits.