GNC
The gross revenue of GNC went down by 3.4 percent year after year. On top of that, it had a $1.3 billion debt to pay! The chief executive said that its e-commerce and Chinese sales were doing fine during Q2 of 2018. However, the company reported that the top-line sales experienced a decline in the same period. This is the reason the company sold 40 percent of shares to a Chinese company. They will now be the ones to promote, produce, sell, and distribute the products across the Asian country.
GNC
Fred’s Pharmacy
Fred’s Pharmacy reported a decline of 4.3% and a bottom-line loss of $139.3 million. The company initially wanted to raise its 600 stores to 1,000 stores, but the plan did not happen. In February 2018, the CFO of the company left, and the position went to a former media exec. Fred’s had no choice but to enact its Plan B, which was to go up for sale. It sold the specialty pharmacy CVS for $40 million.
Fred’s Pharmacy
