GNC
In 2017, RetailDrive reported that GNC saw a gross revenue drop of 3.4 percent in its year to year to around $2.5 billion. On top of this, it boasted $1.3 billion debt. The GNC chief executive pointed out that the company was faring better in China, as well as with e-commerce during the second quarter of 2018. However, the company admitted that its top-line sales dropped in terms of profits and sales during that same period. The company planned to sell 40% of its shares to a pharma company in China. This Chinese company is going to take over production, promotion, sales, and distribution in the Asian country.
GNC
Fred’s Pharmacy
In May 2018, this pharma company reported that the gross sales for the past fiscal year went down by 4.3%, while the bottom-line sales loss went up to $139.3 million. Fred’s Pharmacy tried to increase the number of stores from 600 to 1,000 across the U.S. However, the plan did not happen. According to RetailDive, the extra spaces for these stores were available. Walgreens attempted to negotiate with Rite Aid but they failed to reach an agreement. In February 2018, the CFO of Fred’s left and got replaced by a media executive. After that, it was time for Fred to set “Plan B” into motion. This meant going up for sale! The company sold the specialty pharmacy CVS for $40 million.
Fred’s Pharmacy
