Thursday, April 28, 2016

GNC to sell 84 company-owned stores

Image result for gncGNC Holdings Inc. said Thursday it would be selling 84 company-owned stores to one of the country's biggest franchisers in a deal that will eventually lead to the Pittsburgh-based nutrition retailer selling off about 1,000 of its stores.

GNC disclosed in its first-quarter earnings report released Thursday that it would receive about $17 million from the sale to Sun Holdings, which does not yet own any GNC locations. It's a small slice of its 9,000 GNC stores worldwide, including 2,340 that are part of a store-within-a-store at drug store Rite Aid. But it's part of a larger effort for GNC to sell off 200 company-owned stores this year and 1,000 total.. . . more

No comments: