Outlook for retail in America
Retail and sales analyst Erin Sykes and Strategic Resource Group Managing Director Burt Flickinger on the state of the retail sector.
Malls across America will reportedly be losing a major retailer.
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Health and wellness retailer GNC plans to close up to 900 stores with big cuts to mall locations expected, according to USA Today..
During Monday’s second-quarter earnings call with analysts, the company talked about continued “store optimization effort.”
According to company records,102 company-owned and franchise locations have already closed in the first six months of the year.
GNC officials had announced in November 2018 that they would close up to 900 stores over the next three years in the U.S. and Canada as leases expire, according to USA Today.
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Of GNC’s approximately 4,100 U.S. locations, 61 percent are reportedly in strip centers and 28 percent are in malls.
