GNC 2012 Annual Report Download - page 56

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Table of Contents
The following table summarizes our stores for the periods indicated:
Successor Predecessor
Year Ended
December 31,
2011
Year Ended
December 31,
2010
Year Ended
December 31,
2009
Year Ended
December 31,
2008
March 16-
December 31,
2007
January 1-
March 15,
2007
Company-owned
stores
Beginning of
period balance 2,917 2,832 2,774 2,745 2,699 2,688
New store
openings 145 101 45 71 64 18
Franchise
conversions(a) 30 24 53 33 44 17
Store closings(b) (46) (40) (40) (75) (62) (24)
End of period
balance 3,046 2,917 2,832 2,774 2,745 2,699
Franchised stores
Domestic
Beginning of
period balance 903 909 954 978 1,022 1,046
Store
openings(b) 63 42 31 41 16 4
Store closings(c) (42) (48) (76) (65) (60) (28)
End of period
balance 924 903 909 954 978 1,022
International
Beginning of
period balance 1,437 1,307 1,190 1,078 996 961
Store openings 195 232 187 198 115 44
Store closings (42) (102) (70) (86) (33) (9)
End of period
balance 1,590 1,437 1,307 1,190 1,078 996
Store-within-a-
store (Rite
Aid)
Beginning of
period balance 2,003 1,869 1,712 1,358 1,266 1,227
Store openings 127 150 177 401 101 39
Store closings (5) (16) (20) (47) (9) —
End of period
balance 2,125 2,003 1,869 1,712 1,358 1,266
Total Stores 7,685 7,260 6,917 6,630 6,159 5,983
Stores that were acquired from franchisees and subsequently converted into company-owned stores.
Includes corporate store locations acquired by franchisees.
Includes franchise stores closed and acquired by us.
(a)
(b)
(c)
Item 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
You should read the following discussion in conjunction with Item 6, "Selected Financial Data" and our audited consolidated financial statements and the
related notes thereto. The discussion in this section contains forward-looking statements that involve risks and uncertainties. See Item 1A, "Risk Factors" in
this Annual Report for a discussion of important factors that could cause actual results to differ materially from those described or implied by the forward-
looking statements contained herein. We urge you to review the information set forth in "Forward Looking Statements" and Item 1A, "Risk Factors" included
elsewhere in this Annual Report.
Business Overview
We are a global specialty retailer of nutritional supplements, which include VMHS, sports nutrition products, diet products, and other wellness products.
We derive our revenues principally from product sales through our company-owned stores and online through GNC.com and LuckyVitamin.com, domestic
and international franchise activities and sales of products manufactured in our facilities to third parties. We sell products through a worldwide network of
more than 7,600 locations operating under the GNC brand name.
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