GNC Digital Sales Hot But Shareholders Slow To Warm To China Expansion Deal
This article was originally published in The Rose Sheet
Executive Summary
GNC’s Amazon storefront has an impact as the store and the firm’s website combine for 27% online sales growth in the first quarter. The firm delays a vote on a planned deal that would makes Harbin Pharmaceutical its largest shareholder, with a board voting bloc of five seats, and would launch a JV by the firms to expand GNC's presence in China.
You may also be interested in...
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.
GNC Results Slumped, And Then Coronavirus Pandemic Spread Uncertainty Across 2020
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.
GNC Links Pipeline To Loyalty Program Trends, Builds Private Label Lines
CEO Ken Martindale says research and development linked to firm’s loyalty program, which provides data on the needs of the nearly 15m customers enrolled. “The data-driven insight we gain from our loyalty program are beginning to help us shape our product development and innovation,” he says.