GNC
According to RetailDrive in 2017, GNC’s gross revenue fell 3.4 percent year after year to approximately $2.5 billion, while it had debt worth $1.3 billion. The chief executive of GNC said that the company was doing well in China and on e-commerce in the second quarter of 2018. However, GNC also reported that in the second quarter of 2018, its top-line had experienced a drop in its sales and profits. The company also reported that it would sell 40 percent of its shares to a Chinese pharma company. The said Chinese company will then produce, promote, sell, and distribute GNC products in China. Fred’s top-line sales have also experienced a nosedive.
GNC
Fred’s Pharmacy
In May 2018, Fred’s Pharmacy reported that its gross sales for the previous fiscal year dropped 4.3 percent and its bottom-line loss reached $139.3 million. Fred’s tried to establish 1,000 stores around the U.S., increasing its number from 600 stores, but the plans fell through. RetailDive reported that extra spaces for stores were available for the taking. The said spaces were available and Walgreens tried to negotiate a deal with Rite Aid but it didn’t work out. In February 2018, Fred’s CFO left the company, placing a former media executive as the replacement. Fred’s put “Plan B” into place, going up for sale. It sold CVS, its specialty pharmacy, for $40 million. A big maternity company also experienced some executive shakeups when things didn’t go well for them.
Fred’s Pharmacy
