Connect with us

National Consumer News

GNC planning to close 900 stores, mostly at malls

DaytonDailyNews.com

By: Holly Shively, DaytonDailyNews.com

Pittsburgh-based GNC is planning to close up to 900 stores as part of cost-saving goals for 2019 and 2020.

The company will close 700 to 900 stores, according to Retail Dive, with most of the closures targeted at mall locations, CEO Ken Marindale said in a conference call Monday. 

GNC locations in strip malls, where about 61 percent of the footprint is located, are “relatively stable from a comparable sales perspective,” Martindale said, according to Retail Dive.

The supplements retailer saw revenue drops of 8 percent to $476.1 million in the second quarter, in large part because of same-store sales declines of 4.6 percent, according to a GNC statement.

Recall alert: Macleods Pharmaceuticals pulls Losartan from shelves

Uncategorized

Recall alert: Honda Ridgelines recalled, could catch fire after using car wash

Uncategorized

Office Depot and tech support firm to pay $35 million after investigation by Jesse Jones

Jesse’s Story of the Day

Recall alert: Watermelon juice recalled, could contain plastic

Uncategorized