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CNBC reports that vitamin retailer GNC plans to close 200 stores in the US and Canada this year, saying that its efforts to achieve “favorable lease renegotiations or relocation opportunities are ongoing and may impact the amount of stores closings.”

The closings occur has GNC said that its first quarter net income was just a quarter of what it was a year ago ($6.2 million compared with $24.7 million).

GNC also said it expects to open only a "limited number" of new locations this year.

The story notes that GNC “has more than 8,000 locations globally, about 3,300 of which are corporately held and within the U.S. and Canada, according to its website. It also operates shops within Rite Aid stores, and has a little more than 1,000 domestic franchise locations.”
KC's View:
I can’t make a really informed judgement about this because I don’t shop at GNC … but it sort of feels to me like the Radio Shack of the supplement business. There seems to be very little in a GNC store that one couldn’t et from a bunch of other places online, and yet it has all these stores, many of them in malls, which themselves are facing declines in customer traffic.

Next thing you know, GNC will be hiring the same guy who helped Blockbuster engineer its turnaround…