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Vitamin Shoppe Industries Inc. Oct 11
Standard & Poors, October 2011
Multichannel sales distribution; Broad product offering, including private-label brand; and No significant near-term maturities. Small size in the highly competitive and fragmented retail vitamin industry; Risks associated with aggressive store expansion; and Moderate debt leverage; almost all is capitalized operating leases. The rating on Vitamin Shoppe Industries Inc. reflects Standard & Poor's Ratings Services' expectation that the company will continue its positive sales and comparable-store sales growth, which could result in further widening of operating margins and stable to modestly improving credit metrics over the next year. We assess Vitamin Shoppe's financial risk profile as significant, reflecting the company's moderate financial policies, modest funded debt levels, and good cash flow generation. Over the past year, the company used excess cash...
Companies mentioned in this report are: Vitamin Shoppe Industries Inc.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Vitamin Shoppe Industries Inc.