GNC Will Close 900 Stores
GNC has decided that they will close 900 stores in the United States and Canada. The health and wellness retailer will focus on closing their struggling mall locations first.
“I think it could be likely that we’ll reduce our mall count by a nearly half, so we’ve got a little over 800 malls today and over the long-term, we could bring that closer to 400 to 500.” – Tricia Tolivar, CFO for GNC.
GNC firmly believes by cutting down on the number of stores they have they can remain profitable and avoid filing for bankruptcy in the future. GNC is suffering from the lack of foot traffic in the mall due to the convenience of online shopping.