GNC
In 2017, RetailDive reported that the gross revenue of GNC went down by 3.4 percent or $2.5 billion. On top of this, the company had $1.3 billion in debt. The chief executive said it was doing just fine in terms of e-commerce and China sales during Q2 of 2018. However, the top-line experienced a decline in profits and sales. The company then sold off 40 percent of shares to a Chinese pharmaceutical company. This affiliate will now handle the production, sale, promotion, and distribution of its products over there.
GNC
Fred’s Pharmacy
In May 2018, this company reported that its gross sales went down by 4.3 percent. On top of that, its bottom-line loss was $139.3 million. Fred’s Pharmacy wanted to have 1,000 stores from 600 stores, but this plan did not happen. In February 2018, the CFO of the company left and was replaced by a former media exec. It turned to Plan B, which meant selling. It sold the specialty pharmacy CVS for $40 million.
Fred’s Pharmacy