NEW YORK (
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
, which completed its IPO in October 2009.
Already this year the retail sector has seen IPOs from designer
and men's apparel maker,
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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