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# Well-Known Supplement Company GNC Announces Closure of 700-900 Stores

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Well-known company GNC announced the closure of 700-900 stores to meet its 2019 and 2020 cost savings targets. GNC is known to sell nutrition and supplement products. More than a quarter of the closures will be in malls versus strip malls where the company is relatively stable. The announcement was made after GNC reported that their second quarter revenues dropped by 8% to $476.1 million in the US and Canada. This was largely due to a same-store decline of 4.6% that caused a loss of$17.5 million. The truth is that malls have been suffering for quite some time now and have already experienced more store closures than last year. It is expected that as many as 12,000 stores will close by the end of 2019. What is interesting, however, is that the closure of large department stores is slowing.