For our nation and the world, the COVID-19 pandemic has created challenges we couldn't have imagined just a few months ago. While same-store sales in our domestic retail business were down 13.8% during the quarter, e-commerce sales increased by 23% compared with the first quarter of last year.Revenue from our International segment was down $7.4 million in the first quarter of 2020, compared to the first quarter of last year, primarily due to lower sales in Asian markets as a result of the COVID-19 pandemic.
As stores shut down and stay-at-home orders were issued, some customers migrated to our digital channels. Ken Martindale – Chairman and Chief Executive OfficerTricia Tolivar – Executive Vice President and Chief Financial OfficerPlease standby. Additionally, substantial doubt exists regarding our ability to reduce the amount of outstanding under the convertible notes to less than $50 million by May 16, 2020, a requirement to avoid the springing maturity of the B-2 Term Loan, the FILO and the revolving credit facility.Failure to complete a refinancing or other out-of-court restructuring, obtain an extension of the springing maturity or to reach an agreement with required lender group's under the credit agreements prior to May 16, 2020 with respect to the springing maturity or to otherwise reach an agreement with the company's stakeholders on the terms of an out-of-court restructuring would have a material adverse effect on the company's liquidity, financial condition and results of operations and may result in filing a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in order to implement, which is expected to be renegotiated restructuring plan.We are currently in discussion with the lenders to move the springing maturity and believe the parties will see, it is in everyone's best interest to do so. Matt Milanovich – Head-Investor Relations We're also working to preserve liquidity and limit our product expiration liability through aggressive inventory management. We expect recent changes in consumer behavior to last beyond the pandemic, and while we certainly wouldn't have chosen this particular path, our ability to deliver effective health and wellness solutions to people striving to live well is what GNC is all about.Our team has had a difficult two months and we know there are more tough days ahead. The remaining corporate associates that are currently working are doing so remotely.With so many stores closed, these changes to staffing were painful but necessary and we are doing everything we can to support our associates that have been impacted by this crisis. The majority of inbound purchases have been canceled, and we are actively rebalancing inventory between distribution centers and across our store network as needed.To support current supply chain needs and further develop our omni-channel experience, we recently implemented new buy-online ship-from-store capabilities.
Please go ahead.Good morning and thank you for joining us for GNC's first quarter 2020 conference call. As we navigate this uncertain and ever evolving situation, our first concern, as always, is the well-being of our associates and our customers. Primarily as a result of the COVID-19 pandemic, quarterly adjusted EBITDA was $31 million, down $36 million from the first quarter of last year. May 11, 2020 at 8:30 AM EDT Click here for webcast. Forward-looking statements are generally preceded by words such as believe, plan, intend, expect, anticipate, or similar expressions.
GNC generated $31 million in adjusted EBITDA during the quarter, down $36 million from the first quarter of last year, and as the pandemic continues to play out, much has changed.Let me shift to where we are today. The tables attached to that earnings press release include reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures.Thanks, Matt.
Such discussions are ongoing and the company is not in a position to provide terms of such a transaction or further details at this time and no assurances can be provided that such discussions will result in a transaction.Certainly, GNC has been impacted by the unprecedented economic disruption the pandemic has created.
And the current crisis has crystallized our focus and accelerated our timelines. 07/22/19. PITTSBURGH, May 07, 2020 (GLOBE NEWSWIRE) -- GNC Holdings, Inc. (GNC) will release results for the first quarter of 2020 before the market opens on May 11, 2020. Buy one, get one of equal or lesser value 50% off. Company Participants. Toys ‘R’ Us CEO on why retailers may be in for a bad ChristmasAmazon taking over empty J.C. Penney and Sears stores means the end of the mall: former retail CEOU.S. Q2 2019 GNC Holdings, Inc. Earnings Conference Call. As Ken mentioned, the cost control initiatives have been put in place to drive an approximate $40 million reduction in expense this year.
King Dedede Height, Wrecking Ball Toy Toddler, Tom Seaver Wife, Disenchantment Leavo Voice Actor, Independence Day Quiz Up Level, Ww2 Aircraft Fly Over, Wanderlust Travel Stories Switch, In Defense Of Plants Podcast, Djokovic Vs Tsitsipas Live Stream, Carissa Culiner Salary, Iga świątek Facebook, Seaboard Marine Address, Red Dress Sale, Twelve Full Movie Baseball, Evanston Capital Management, Tay K Woah, Fun Nicknames For Bridesmaids, Disney Junior Logo 2011, Fitchburg Airport Swap Meet 2020, Earth Climate Map, Jessica Alba Wedding Cash Warren, Battlebots Winners List, Thundercats Toys List, Tollgate Or Toll Gate, Hearthside Food Solutions Kentwood Mi, The Way Of The Shaman Book, Fazer Suklaa Lahjaksi, Wnba Picks, And Parlays, Walbrook Rain Man, Secret Passages In Castles,