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GNC suspends dividends, earnings miss

A customer at a GNC Holdings store in New York.
Jin Lee | Bloomberg | Getty Images
A customer at a GNC Holdings store in New York.

GNC shares dropped Thursday after the company released disappointing fourth-quarter results and suspended dividends.

Shares fell 7.2 percent to $7.72 a share, down 30 percent for the year so far.

GNC reported fourth-quarter revenue of $569.9 million versus the Thomson Reuters consensus estimate of $571.7 million. Adjusted earnings of 7 cents a share were well below the 34 cent forecast.

The nutritional supplements retailer also announced it would suspend quarterly dividend payouts as part of a plan to reduce debt.

Domestic company-owned same-store sales fell 12 percent, worse than the FactSet forecast of 9.6 percent.

In December, GNC temporarily shuttered all of its U.S. locations to revamp its pricing strategy.

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