Planning on going to GNC to pick up some vitamins? Make sure the store is open first.
GNC, the nutrition store powerhouse, has temporarily shut the doors to all 4,464 of its U.S locations.
The company is in the process of trying to revamp its pricing strategy by doing these one-day closures.
“The new GNC leaves the old, broken model behind,” interim CEO Robert Moran said in a news release.
“It will take time for the changes to take hold and translate to improved financial results,” Moran stated.
The company is also upgrading its cash registers and supply chain so that it can move customers through the checkout line quicker, and keep more items in stock.
“We’re making these investments because we believe in this business,” Moran said.
The news sent GNC shares lower on Wednesday. Theh stock has seen almost a 64% decline in the last year.
Disclaimer: We have no position in GNC Holdings Inc. (NYSE: GNC) and have not been compensated for this article.