GNC Shares Jump After Company Says It's Considering Sale

GNC Holdings Inc. shares are up 6.9% in Monday premarket trading after the company said it is considering a sale as part of a review of its strategic alternatives. The health and wellness retailer is undergoing an evaluation of its operating plan, and is also considering accelerated refranchising strategies, partnerships and other collaborations, and capital structure optimization, it said in a release. The company is working with Goldman, Sachs & Co. and the law firm Wachtell, Lipton, Rosen & Katz during the process. GNC said there's no guarantee of any specific action and doesn't plan to discuss any further plans until there's board approval. GNC shares are down 44.3% for the past year while the S&P 500 is down 2% for the same period.