July 24, 2019 1 min read

Health and nutrition retailer GNC will close up to 900 stores—mostly in shopping malls—due to declining foot traffic, CEO Ken Martindale said in the company’s second-quarter earnings call, reflecting a persistent issue retailers have to contend with as thousands of physical stores belonging to large retailers have closed this year.

  • By the end of 2020, Martindale said GNC will close 700-900 stores because “the negative trends in traffic that we’ve seen in mall stores over the past several years has accelerated during the last few quarters.”
  • Currently, 61% of GNC stores are in strip centers while 28%, or about 800, are located in shopping malls. Martindale said. 
  • The closures will cut the company’s mall presence nearly in half to 400 or 500.

In November 2018 GNC said it would close 700-900 stores over the next three years , but the severity of declining mall traffic will cause the retailer to shut down closer to the top of that range, Martindale said.

GNC, based in Pittsburgh, has 8,000 locations worldwide, with 5,900 in the U.S. 


Source: Forbes.com