The Briefing Room

General Category => Economy/Business => Topic started by: Applewood on July 23, 2019, 03:17:00 pm

Title: GNC could close up to 900 stores and slash its mall location count in half...
Post by: Applewood on July 23, 2019, 03:17:00 pm

GNC could close up to 900 stores and slash its mall location count in half as the retail apocalypse roars on

Quote

Health and nutrition chain GNC is planning to close hundreds of stores as the retail apocalypse continues to rip through America.

On Monday, CEO Ken Martindale told investors that the company plans to close roughly 900 locations by the end of 2020. In 2018, GNC told investors that the company planned to close 700 to 900 locations over the following three years.

"As a result of the current mall traffic trends, it's likely that we will end up closer to the top end of our original optimization estimate of 700 to 900 store closures," Martindale said.

More at:

https://www.businessinsider.com/gnc-to-close-hundreds-of-stores-2019-7 (https://www.businessinsider.com/gnc-to-close-hundreds-of-stores-2019-7)

Title: Re: GNC could close up to 900 stores and slash its mall location count in half...
Post by: kevindavis007 on July 25, 2019, 01:30:15 am

Not surprised. I can't recall the last time I went to a mall.