Vitamin Shoppe (VSI) 2013年年度报告「NYSE」.pdf

1、To Our Shareholders:2013 was a year with several key accomplishments and significant investments to support future growth at the Vitamin Shoppe.We exceeded the$1.0 billion milestone in total net sales and our comparable store sales increased for the 20th consecutive year.On the product development f

2、ront,we introduced several sub-brands.We successfully integrated Super Supplements,the largest acquisition in the companys history,and we opened a new distribution center to support our long term growth.Our financial performance included total sales growth of 14%and comparable store sales growth of

3、3.5%.Importantly,our financial position remained strong.We ended the year with$74 million in cash,no debt and have been funding our growth with internally generated cash.Business Overview:2013 A Year of Investment Earnings per share in 2013 were$2.18,up from$2.02 in 2012 and reflects new store expan

4、sion,e-commerce growth and several investments.We opened 52 new stores during 2013.This included three small-market prototypes,bringing total small market stores to five.We continue to refine the capital requirements for these stores to achieve similar,if not higher,returns to that of our traditiona

5、l store format.And if proven successful,we believe the total store potential for the Vitamin Shoppe in the United States can exceed the current 900 store target.During 2013 we entered 2 new states and operated 659 stores in 44 states,the District of Columbia,Puerto Rico and Canada at year end.Anothe

6、r important event was the opening of our first international franchise store in Panama.Consumers responded favorably and our franchise partner is actively looking for additional locations.Our e-commerce business had another strong year,with a 19.4%sales increase.With the investments we have made ove