GNC Plans To Close 900 Stores As Retail Continues To Struggle

Retail health and nutrition giant GNC announced it is planning to close up to 900 of it's stores as retail companies continues to struggle.

In an earnings conference call, CEO Ken Martindale indicated to investors that the company plans to close up to 900 stores by the end of 2020.

"As a result of the current mall traffic trends, it's likely that we will end up closer to the top end of our original optimization estimate of 700 to 900 store closures," Martindale said.

He feels that the number of malls will be cut in half from about 800 to 400 in the next few years due to the decline in retail mall foot traffic.