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This retail company, which offers discount products, has found itself in a very difficult situation because of the competition from other companies such as Dollar Tree, Walmart, and Dollar General. It even reported a net loss of $27.1 million in December 2017. This 35-year-old company has tried to turn the tide, but to no avail.
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GNC
In 2017, GNC’s gross revenue fell 3.4 percent year after year to approximately $2.5 billion, while it had debt worth $1.3 billion. The chief executive of GNC said that the company was doing well in China and on e-commerce in the second quarter of 2018. The company also reported that it would sell 40 percent of its shares to a Chinese pharma company. The said Chinese company will then produce, promote, sell, and distribute GNC products in China.
GNC
