UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): August 5, 2014

 

 

Vitamin Shoppe, Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   11-3664322

(State or Other Jurisdiction of

Incorporation or Organization)

 

(IRS Employer

Identification No.)

001-34507

(Commission File Number)

2101 91st Street

North Bergen, New Jersey 07047

(Addresses of Principal Executive Offices, including Zip Code)

(800) 223-1216

(Registrant’s Telephone Number, Including Area Code)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


ITEM 8.01 OTHER EVENTS

On August 5, 2014, Vitamin Shoppe, Inc. (the “Company”) issued a press release announcing that its board of directors approved a Share Repurchase Program that enables the Company to purchase up to $100 million of its shares of common stock over the next three (3) years. Shares will be repurchased from time-to-time in the open market or in privately negotiated transactions. The press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein as reference.

 

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

 

  (d) EXHIBITS

 

99.1    Press release dated August 5, 2014 (furnished pursuant to 8.01).


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

    Vitamin Shoppe, Inc.
Date: August 5, 2014     By:  

/s/ Jean W. Frydman

    Name:   Jean W. Frydman
    Title:  

Senior Vice President, General

Counsel & Corporate Secretary


EX-99.1

Exhibit 99.1

 

LOGO

 

VITAMIN SHOPPE, INC.   NEWS RELEASE

2101 91st Street

North Bergen, NJ 07047

(201) 624-3000

www.vitaminshoppe.com

 

The Vitamin Shoppe Announces Share Repurchase Program

Board Authorizes $100 million Buyback

NORTH BERGEN, N.J., August 5, 2014 — Vitamin Shoppe, Inc. a multi-channel specialty retailer and contract manufacturer of nutritional products, today announced that its board of directors approved a share repurchase program that enables the company to purchase up to $100 million of its shares of common stock over the next three years. Shares will be repurchased from time-to-time in the open market or in privately negotiated transactions. The Board has authorized the share buyback program in recognition of the Company’s strong financial position and significant cash generating abilities.

The repurchase program does not obligate the Company to acquire any specific number of shares and may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases.

 

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Commenting on the Board’s action, Tony Truesdale, the Vitamin Shoppe’s CEO stated, “This program reflects our commitment to enhancing long-term shareholder value and our confidence in the Vitamin Shoppe’s prospects as a leading health and wellness retailer. Given our cash position, ability to generate cash from operations and availability on our credit facility, we can implement this stock buyback program and still have sufficient liquidity to invest in and grow our business.”

About the Vitamin Shoppe, Inc. (NYSE:VSI)

Vitamin Shoppe is a multi-channel specialty retailer and contract manufacturer of nutritional products based in North Bergen, New Jersey. In its stores and on its website, the Company carries one of the most comprehensive retail assortments in the industry, including vitamins, minerals, specialty supplements, herbs, sports nutrition, homeopathic remedies, green living products, and beauty aids. In addition to offering 900 national brand products, the Vitamin Shoppe also exclusively carries products under The Vitamin Shoppe®, BodyTech®, True Athlete®, MyTrition®, plntTM, ProBioCareTM , Next StepTM, Betancourt and Nutri-Force Sports® brands. The Vitamin Shoppe conducts business through more than 670 company-operated retail stores under The Vitamin Shoppe, Super Supplements and Vitapath retail banners, and primarily through its websites, www.VitaminShoppe.com and www.supersup.com. Follow The Vitamin Shoppe on Facebook at http://www.facebook.com/THEVITAMINSHOPPE and on Twitter at http://twitter.com/VitaminShoppe.

Forward Looking Statements

Certain statements in this press release are “forward-looking statements.” Such forward-looking statements reflect the Company’s current expectations or beliefs concerning future events and actual results of operations may differ materially from historical results or current expectations. Any such forward-looking statements are subject to various risks and uncertainties, including the strength of the economy, changes in the overall level of consumer spending, the performance of the Company’s products within the prevailing retail environment, trade restrictions, availability of suitable store locations at appropriate terms, the availability of raw materials, compliance with regulations, certifications and best practices with respect to the development, manufacture, sales and marketing of the company’s products and other factors which are further described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 28, 2013 and in all filings with the Securities and Exchange Commission made by the Company subsequent to the filing of the Form 10-K. The Company does not undertake to publicly update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, unless required to do so by law.

 

Investor and Analyst Contact   Media Contact
Kathleen Heaney   Meghan Kennedy
646-912-3844   201-552-6017
ir@vitaminshoppe.com   meghan.kennedy@vitaminshoppe.com
(NYSE: VSI)  
AAB990  

 

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