What Is Going On With GNC?
General Nutrition Centers better known to the American public as GNC is too my shock is in danger of going bankrupt. Joining the band of other retail characters like JC Penny , Forever 21, Steak and Shake and David’s Bridal.
Never did I know that their business model was not working for them. But as I think back as I have gone to their stores many times in the past couple of years. I do not ever remember there ever being more than two people in the store shopping along side me at the same time.
Yet in still, what cannot go without saying is the mishandling of the Corona Virus pandemic with an elongated shutdown that in many cases did not protect the most vulnerable of us in nursing homes but yet wanted the other 99% of Americans who are not in the cross hairs statistically of the virus stay at home and out of places like GNC.
The Perfect Time to Sell Vitamins?
As you just read in the quote above. GNC has been hammered by the the elongated shutdown of the American Economy in response to the Corona Virus. Adding more fuel to the fire from people like myself who have been saying that our Governments have been too heavy handed with their measures. I mean how does a Health and Wellness company have problems in a Pandemic?
Force them to close their doors to all customers not just some. That ‘s how.
GNC One of My Favorite Supplement Stores
GNC just happens to be one of my favorite stores to shop at. I am a Preferred member who loves to get my box of supplement goodies in the mail a few times a year.
I also get a nice little discount on purchases. Which is great because although I do buy my supplements from Market America Isotonix line and Herbalife Mainly. GNC is my other Supplement go to. As a 43 year old man I cannot imagine a Supplement industry without GNC.
McDonald’s was deemed Essential and General Nutrition Centers was not in a pandemic where staying healthy is the whole idea.
The best minds in our nations capital, state houses and cities thought that it would be nice for Nutritional centers with Fiber, Protein, supplements, sleep aids and antioxidants to be closed.
Vitamins or Burgers?
Go to McDonald’s and get a double whammy burger.
But if you wanted to pick up a multivitamin with zinc or a product with Elderberry or Vitamin C your out of luck. You have to shop online.
They don ‘t want me to say that those ingredients are thought to be effective against Corona viruses along with Vitamin D so I won ‘t say that.
Locking Down Revenues
The result: GNC who was already having problems in 2019 taking a first quarter loss of 15 million dollars to the chin.
Loss a whopping 200 Million in the first quarter of 2020. Companies like GNC who were hurting before the pandemic are not on the ropes. Hoping to stay alive.
While a 15 Million dollar loss in the first quarter of 2019 for a company like GNC might mean closing a few stores. A 200 Million dollar loss in the first quarter of 2020 means that they have not been able to make their rent for April.