Vitamin Shoppe, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 30, 2017; Reports Goodwill, Intangible Assets and Store Fixed-Assets Impairment for the Fourth Quarter Ended December 30, 2017; Provides Earnings Guidance for the Full Year 2018
For the year, net sales were $1,178,694,000 against $1,289,243,000 a year ago. Loss from operations was $262,813,000 against income of $45,577,000 a year ago. Loss before provision for income taxes was $272,514,000 against income of $36,054,000 a year ago. Net loss was $252,151,000 against income of $24,964,000 a year ago. Net loss per basic and diluted common share was $10.90 against income of $1.04 per diluted share a year ago. Capital expenditures were $55,020,000 against $40,068,000 a year ago. Adjusted net income was $9.1 million or $0.39 per diluted share against $50.3 million or $2.09 per diluted share a year ago. Adjusted operating income was $26.4 million against $92.0 million a year ago.
For the quarter, the company reported goodwill, intangible assets and store fixed-assets impairment of $786,000 against $39,612,000 a year ago.
The company is providing guidance around the key levers that drive the business. Specifically: full year comparable sales of low to mid negative single digits, improving sequentially; full year gross margin rate flat with 2017, benefitting from higher product margins and improvement at nutri-force, partially offset by fixed cost deleverage; combined federal, state and local tax rate of 28%. This excludes taxes associated with permanent book to tax differences estimated at $0.5 million to $1 million; full year capital expenditures of approximately $30 million, includes the opening of 2 new stores.