NEW YORK (
(GNC - Get Report) jumped 3.4% in its first day of trading on Friday after it priced its initial public offering in-line with expectations.
The retailer, which sells wellness and nutrition products at 7,200 stores and online, sold 22.5 million shares at $16 each, for a deal valued at $360 million.
In 2010, GNC earned $97 million on revenue of $1.82 billion.
GNC competes directly with publicly traded
(VSI - Get Report), which completed its IPO in October 2009.
Already this year the retail sector has seen IPOs from designer
(VRA - Get Report)
and men's apparel maker,
(ZA - Get Report)
Toys 'R' Us
is expected to issue its own public offering, which could be worth up to $800 million, this year.
--Written by Jeanine Poggi in New York.
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