GNC Makes Change At Helm As Revenue Decline Continues
This article was originally published in The Rose Sheet
The firm reports lower second-quarter revenues across its retail operations, domestically and internationally, and for company and franchise stores, and a 2.4% drop in consolidated revenues to $673.2m. Same-store sales, including its website, were off 3.7% and net income slipped 5% to $64m.
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The "launch of One New GNC" Dec. 29 at all US company and franchise stores focuses as much on simplifying pricing as on redoing its stores with additional POS terminals to speed checkouts, help customers make decisions based on purchase histories and manage loyalty programs.
Interim CEO Robert Moran says "we found … a badly broken business in need of change" since he took the helm in July. The broken parts include a loyalty program not driving sales; inconsistent and confusing pricing; and point-of-sale checkout failures.