GNC In Rough Seas From COVID-19 Pandemic; Vitamin Shoppe Safe In Port Under New Owner
GNC announces "significant" store and management staff furloughs and other cost-cutting moves "to protect the long-term prospects for the business." Vitamin Shoppe told customers that its stores remain open though it reduced business hours.
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GNC's 30 trading-day average closing share price through 21 April was 56 cents and the average market capitalization was around $47.3m; the firm's last reported stockholders’ equity through December 2019 was a debt of around $207.3m.
Refinancing its debt and reducing its network of stores also expected as drags on 2020 earnings, GNC says. No avoiding the coronavirus pandemic, though, during its earnings briefing; with uncertainty brought on by the pandemic added to other headwinds, it didn’t offer guidance on its 2020 results.
One month into being owned by investment firm, VSI launches Vthrive The Vitamin Shoppe brand of “simply clean” vitamins, minerals, supplements, and essential oils and is opening stores inside locations of national gym chain LA Fitness.