As of 11:40 am Eastern USA, Planet Nutrition (PNHL) (PNHL.PK) was down a penny (5.26%) at $0.10. 115,948 shares have changed hands.
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Coverage Initiated Nov 2007
Current Price - $0.12
Rating - Speculative Buy
Price Target $1.35
Outstanding Shares 86 million
Planet Nutrition, Inc. (PNHL) is a retailer of products and nutritional programs for the diet and nutrition industry. Incorporated in 1999, Planet Nutrition offers an extensive line of products from established nutritional and diet products manufacturers and laboratories.
The Company markets its products through strategic partnerships with manufacturers and distributors, collaborations with fitness centers, company stores and online sales through its website, store.planetnutritiononline.com. Recently, Planet Nutrition entered into an agreement with Peak Fitness, a fitness center chain in North and South Carolina, to open nutritional product stores in each of its 37 fitness centers. By 2009, the Company expects to be generating $10 million in annualized revenues from the Peak Fitness center store network. The Company has already opened one store inside a Peak Fitness Center and is averaging sales of $700 per day with no advertising and no grand opening to drive traffic.
Products address a $226 billion nutrition market
The Company is a retailer of products and programs for the diet and nutrition industry. Given the growing concern in the US about health and weight issues, the Company is likely poised for healthy growth in the years ahead. According to Nutrition Business Journal, the global nutrition market grew from $172 billion in 2003 to $226 billion in 2006. Demand for nutritional products is expected to expand further due to changing consumer demographics (baby-boomers are reaching age 60), growing awareness of diet/disease relationships and increasing acceptance of alternative healthcare practices. Demand for dietary and weight loss products is increasing as a result of growing obesity concerns.
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