GNC
RetailDrive said that GNC suffered a 3.4 percent decline in year after year gross revenue, which translates to $2.5 billion. It has a $1.3 billion debt as well. GNC chief executive said it had been doing fine in China and e-commerce during 2018 Q2. GNC said that its top-line saw a decline in profits and sales in the same period. It planned to sell 40 percent of shares to a China-based pharma company that will take over its product promotion, sales, distribution, and production over there.
GNC
Fred’s Pharmacy
In the previous year, Fred’s Pharmacy saw its gross sales drop by 4.3 percent and its bottom-line loss went up to $139.3 million. It tried to increase its six hundred stores to a thousand stores around the country, but this did not happen. In February 2018, its CEO left the company and got replaced by a media executive. It then put its next plan into action, which is to go up for sale. It ended up putting CVS on the market for $40 million.
Fred’s Pharmacy
