GNC Takes Omni-channel Route To Counter Mass-Market, Online Pressures
Strategy will bring firm’s sales platforms together to present products where and when customers shop. CEO Kenneth Martindale says firm also will use those platforms to expand sales through “significant” white spaces in the 50 countries in which it competes.
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GNC reports e-commerce sales up 13.9% as "re-platforming” of its website in 2017 pays off. Firm reports net sales slumped 13.9% as portfolio optimization strategy focused on shuttering underperforming stores continues to hamper North American business.
GNC is launching numerous products including an energy drink for millennials and a patented ingredient to improve upper and lower body strength. It also is giving its stores a face lift to implement a "service-driven” concept.
Common thread between the manufacturers and retail chain operators offering their own and other brands extends to relatively recent executive suite shakeups following extended stretches of declining sales growth. GNC reported nearly $70m net income for 2018 after two years of net losses and Vitamin Shoppe trimmed its loss by more than $200m from 2017 to $12.1m.