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This retail company offers discount products. It has found itself in a difficult situation due to its competition from other companies like the Dollar Tree, Walmart, and Dollar General. It even went on to report a net loss of $27.1 million in December 2017. The 35-year-old company has tried turning the tide, but with no luck.
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GNC
Back in 2017, GNC’s gross revenue fell 3.4% year after year to about $2.5 billion, while it had debt worth $1.3 billion. The chief executive of the company said it was doing well in China and on e-commerce in the second quarter of 2018. The company has also reported that it would sell 40% of its shares to a Chinese pharma company. Said company will then promote, sell, and distribute GNC products in China.
GNC