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.
About the Author
The Latest
