GNC planning to close 900 stores, mostly at malls

GNC is planning to close up to 900 stores as part of a cost-saving plan over the next two years.
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GNC is planning to close up to 900 stores as part of a cost-saving plan over the next two years.

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

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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.