GNC is set to close approximately 200 stores this year, depending on lease negotiations and relocation opportunities. Subway might close as many as 500.
Pittsburgh-based GNC, which operates nearly 100 stores in New Jersey, reported an over $49 million drop in consolidated first quarter sales as compared to a year ago. U.S. store sales were down 1.9 percent in the first quarter.
It is unknown whether any New Jersey locations are at risk of closing. GNC had not responded for comment at press time.
A spokesperson for Subway, the world’s largest restaurant chain, told NJBIZ that although they expect some U.S. stores to close, they expect over 1,000 stores to open outside of North America.
“Looking out over the next decade, we anticipate having a slightly smaller, but more profitable footprint in North America and a significantly larger footprint in the rest of the world,” said the spokesperson via email.