05/18 13:48 BancBoston Robertson Stephens
Reiterates Buy Rating on GNCI
GNCI.O>
BancBoston Robertson Stephens Reiterates Buy Rating on GNCI
SAN FRANCISCO, May 18 /PRNewswire/ -- The following is being issued by
BancBoston Robertson Stephens, a member of the National Association of
Securities Dealers, CRD number 41271:
BancBoston Robertson Stephens managing director and senior specialty
retailing analyst Janet Joseph Kloppenburg today reiterated her Buy rating on
General Nutrition Companies, Inc. (Nasdaq: GNCI). GNC is the only
nationwide specialty retailer of vitamin and mineral supplements, sports
nutrition products and herbs, and is also a leading provider of personal care
and other health-related products.
"We are reiterating our Buy rating on GNC as we believe the stock has
strong momentum and is a great value play for investors," said Kloppenburg.
"The company reported first quarter 1999 earnings per share of $0.25, slightly
below our $0.26 earnings per share estimate, while first quarter revenues
increased 2.7 percent to $336.4 million, ahead of our $333.0 million estimate.
"With the stock trading at 13.1 times and 10.5 times our fiscal 1999 and
fiscal 2000 earnings per share estimate of $1.37 and $1.70, respectively, we
continue to recommend purchase," said Kloppenburg. "We believe GNC's
strong brand positioning, coupled with Rite-Aid's credibility in their in-store
joint venture and the Internet scheduled October launch, should capture
considerable market share gains and drive earnings per share upside to our
current estimates."
Clients interested in receiving more information should contact their
salesperson at 415-781-9700.
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yield research analysts cover more than 600 companies. Additional
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possible loss of any principal amount invested. SOURCE BancBoston
Robertson Stephens
-0- 05/18/99
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/Web site: rsco.com -- SFTU089 -- 2810 05/18/99 13:33 EDT
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