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Vitamin Shoppe muscles up an IPO
Though it has yet to set terms, Vitamin Shoppe Industries wants to go public. The company has spent about $9.6 million on various web site initiatives and more search engine advertising in the past two years, according to a filing with the SEC.
Though it has yet to set terms, Vitamin Shoppe Industries Inc. wants to go public.
The company, No. 387 in the Internet Retailer Top 500 Guide, filed an S1 registration with the Securities and Exchange Commission on May 23. An S1 is required for companies wishing to sell stock or debt publicly that have not been regularly reporting to the SEC. Bear Stearns, Lehman Brothers and Bank of America are acting as underwriters.
In 2006, Vitamin Shoppe posted net income of $4.8 million on revenue of $486 million vs. a net loss of $5.7 million on sales of $436.4 million in 2005. The company’s direct sales, which include the Internet, totaled $78.5 million for 2006 compared to $74.3 million for 2005.
The company has spent about $9.6 million on various web site initiatives and more search engine advertising in the past two years, according to the S1 filing. In 2006 VitaminShoppe.com attracted about 8.2 million visitors.
Vitamin Shoppe, which carries an online inventory of approximately 20,000 SKUs, processed about 450,000 web orders in 2005, according to the S1 filing.