National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Retailer GNC to Shutter up to 900 Stores
Pittsburgh-based health and wellness retailer GNC has announced plans to close as many as 900 stores. The plans were revealed during the retailers second-quarter earnings call with analysts on July 22.
Among the cuts, mall locations could be hit the hardest, with GNC CFO Tricia Tolivar saying that the retailer may reduce its mall count by nearly half. GNC currently has around 800 locations at malls across the country. Through the first half of 2019, company records show that 192 company-owned and franchise locations have already closed.
Of GNC’s approximately 4,100 locations in the U.S., 61% are in strip centers and 28% are in malls. There are also 2,200 GNC locations in Rite Aid stores. The company also announced plans to expand partnerships with Hudson News and Dick’s Sporting Goods on Monday. GNC reported a net income of $16.1 million for the second quarter of 2019.
For comments, questions or concerns, please contact David Cohen
- ◦Lease
