Health and Fitness Club Industry News: Chains
Saturday, May 4th, 2024
Planet Fitness Announces Key Year-End Metrics
Posted: January 9, 2023 in Chains
HAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT), one of the largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announces that as of December 31, 2022, it had approximately 17.0 million members, an increase of 1.8 million members since the end of 2021. Additionally, in 2022, it placed equipment in 154 new franchised locations and opened 158 new Planet Fitness stores including 14 corporate-owned locations, bringing system-wide total stores to 2,410. Read More...
Life Time Closes on $175 Million in Sale-Leaseback Transactions Year To Date
Posted: May 16, 2022 in Chains
CHANHASSEN, MN - Life Time Group Holdings, Inc. ("Life Time" or the "Company") (NYSE: LTH) announces it has now closed on sale-leaseback transactions involving four of its owned properties totaling $175 million. Read More...
Blink Fitness Announces Strong Post-COVID Performance with March 2022 Closing as Best Sales Month in Company’s Eleven-Year History
Posted: April 4, 2022 in Chains
NEW YORK, N.Y. - As the country and individuals have started to become more comfortable in a post-COVID world, Blink Fitness announces record sales performance numbers. According to recent company data, March was the highest sales month in the history of the business, and February surpassed any previous February in the company's history. Blink Fitness' in-gym traffic data also indicates as members return to the gym, and new members join, they are more engaged than ever, and committed to returning to a fitness routine. Read More...
Life Time Announces Third Quarter Fiscal 2021 Financial Results
Posted: October 28, 2021 in Chains
CHANHASSEN, MN - Life Time Group Holdings, Inc. ("Life Time" or the "Company") (NYSE: LTH) announced its financial results for the fiscal third quarter ended September 30, 2021. Third Quarter 2021 Results and Prior Year Comparisons: Total revenue increased 66.7% to $385.0 million from $231.0 million. Comparable center sales increased 58.7%. Center memberships increased 16.7% to 668,310 as of September 30, 2021, from 572,811 as of September 30, 2020. Net loss improved to $(45.4) million from $(93.6) million and included tax-effected expenses of $3.2 million related to share-based compensation and $2.0 million primarily related to non-recurring losses incurred on a sale-leaseback of one of our centers. Adjusted EBITDA increased to $47.0 million from $(12.4) million. Read More...
Planet Fitness, Inc. Announces Third Quarter 2020 Results
Posted: November 5, 2020 in Chains
HAMPTON, N.H. - Planet Fitness, Inc. (NYSE:PLNT) reported financial results for its third quarter ended September 30, 2020: Total revenue decreased from the prior year period by 36.8% to $105.4 million. System wide same store sales decreased 5.6%. Net (loss) income attributable to Planet Fitness, Inc. was a loss of $3.1 million, or $0.04 per diluted share, compared to income of $25.8 million, or $0.31 per diluted share in the prior year period. Net (loss) income decreased 111.1% to a net loss of $3.3 million, compared to net income of $29.7 million in the prior year period. Adjusted net income decreased 95.1% to $1.6 million, or $0.02 per diluted share, compared to $33.1 million, or $0.36 per diluted share in the prior year period. Adjusted EBITDA decreased 51.3% to $32.0 million from $65.7 million in the prior year period. 29 new Planet Fitness stores were opened during the period, bringing system-wide total stores to 2,086 as of September 30, 2020. Cash of $501.6 million as of September 30, 2020, which includes cash and cash equivalents of $419.7 million and restricted cash of $81.9 million. Read More...
Planet Fitness, Inc. Announces Second Quarter 2020 Results
Posted: August 5, 2020 in Chains
HAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT) reported financial results for its second quarter ended June 30, 2020: Total revenue decreased from the prior year period by 77.9% to $40.2 million. Net (loss) income attributable to Planet Fitness, Inc. was a loss of $29.2 million, or $0.36 per diluted share, compared to income of $34.8 million, or $0.41 per diluted share in the prior year period. Net (loss) income decreased 180.3% to a net loss of $32.0 million, compared to net income of $39.8 million in the prior year period. Adjusted net (loss) income decreased 166.5% to an adjusted net loss of $27.9 million, or $0.32 per diluted share, compared to adjusted net income of $42.0 million, or $0.45 per diluted share in the prior year period. Adjusted EBITDA decreased 112.1% to a loss of $9.3 million from earnings of $76.5 million in the prior year period. 21 new Planet Fitness stores were opened during the period, bringing system-wide total stores to 2,059 as of June 30, 2020. Cash and cash equivalents as of June 30, 2020 was $423.6 million. Read More...
Planet Fitness, Inc. Announces First Quarter 2020 Results and Provides COVID-19 Update
Posted: May 5, 2020 in Chains
HAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT) has reported financial results for its first quarter ended March 31, 2020 and provided a further update on its response to COVID-19. The majority of stores remain temporarily closed and will reopen when local authorities issue guidelines authorizing the reopening of fitness centers, which has begun to happen in certain localities. The following is a summary of the current status of Planet Fitness and the actions taken to mitigate the financial impact of COVID-19 and preserve liquidity to-date... Read More...
Planet Fitness Prices $550 Million Securitized Financing
Posted: November 20, 2019 in Chains
HAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT) (together with its subsidiaries, the "Company") announced that it has priced $550 million of Series 2019-1 Class A-2 Fixed Rate Senior Secured Notes (the "Class A-2 Notes"), with an anticipated repayment term of ten years and a fixed interest rate of 3.858% per annum, payable quarterly. The Class A-2 Notes are expected to be issued by Planet Fitness Master Issuer LLC (the "Master Issuer"), a limited-purpose, bankruptcy remote, indirect subsidiary of Planet Fitness, Inc. in a privately placed securitization transaction. Read More...
Planet Fitness, Inc. Announces Second Quarter 2018 Results
Posted: August 9, 2018 in Chains
HAMPTON, N.H. - Planet Fitness, Inc. (NYSE : PLNT) reported financial results for its second quarter ended June 30, 2018: Total revenue increased from the prior year period by 31.0% to $140.6 million. System-wide same store sales increased 10.2%. Net income attributable to Planet Fitness, Inc. was $25.9 million, or $0.29 per diluted share, compared to net income attributable to Planet Fitness, Inc. of $12.4 million, or $0.16 per diluted share in the prior year period. Net income was $30.4 million, compared to net income of $18.0 million in the prior year period. Adjusted net income increased 53.3% to $33.2 million, or $0.34 per diluted share, compared to $21.7 million, or $0.22 per diluted share in the prior year period. Adjusted EBITDA increased 21.8% to $58.4 million from $47.9 million in the prior year period. 44 new Planet Fitness franchise stores were opened during the period, bringing system-wide total stores to 1,608 as of June 30, 2018. Read More...
Planet Fitness Completes Refinancing Transaction; Appoints Roger Chacko Chief Commercial Officer
Posted: August 1, 2018 in Chains
HAMPTON, N.H. - Planet Fitness, Inc. (NYSE:PLNT) (together with its subsidiaries, the "Company") announced that it has completed its previously announced refinancing transaction of certain of its subsidiaries with a new securitized financing facility, with the placement by its special purpose subsidiary (the "Master Issuer") of a new series of $1.275 billion of securitized notes (the "2018 Notes"). Planet Fitness also announced that Roger Chacko has been appointed Chief Commercial Officer effective immediately. In this newly created position, Chacko will be responsible for overseeing the Company's demand generation functions such as marketing, branding, public relations and communications, sales and corporate partnerships, channel management, corporate strategy, analytics, and consumer research. He will report directly to Chris Rondeau, Chief Executive Officer of Planet Fitness. Read More...
Planet Fitness Prices $1.2 Billion Securitized Financing Facility
Posted: July 19, 2018 in Chains
HAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT) (together with its subsidiaries, the "Company") announced that it has priced $1.2 billion of Series 2018-1 Class A-2 Fixed Rate Senior Secured Notes (the "Class A-2 Notes"), which consist of two tranches. The 2018 Notes are expected to be issued by Planet Fitness Master Issuer LLC (the "Master Issuer"), a newly-formed, limited-purpose, bankruptcy remote, indirect subsidiary of Planet Fitness, Inc. in a privately placed securitization transaction. The aggregate principal amount represents an upsize from the previously announced proposed issuance of $1.15 billion. Read More...
Planet Fitness, Inc. Announces Refinancing Transaction
Posted: July 9, 2018 in Chains
HAMPTON, N.H. - Planet Fitness, Inc. (NYSE:PLNT) (together with its subsidiaries, the "Company") announced that certain of its subsidiaries intend to complete a refinancing of their existing senior secured credit facilities with a new securitized financing facility. As of March 31, 2018, the Company had an outstanding principal amount of term loans under its senior secured credit facilities of approximately $707.7 million. The Company intends to replace the senior secured credit facilities with a new $1.225 billion securitized financing facility, expected to be comprised of $1.15 billion of senior fixed-rate term notes (the "2018 Notes") and $75 million of variable funding notes (collectively, the "Notes"). Read More...
Planet Fitness, Inc. Announces First Quarter 2018 Results
Posted: May 9, 2018 in Chains
HAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT) reported financial results for its first quarter ended March 31, 2018: Total revenue increased from the prior year period by 33.2% to $121.3 million. System-wide same stores sales increased 11.1%. Net income attributable to Planet Fitness, Inc. was $19.9 million, or $0.23 per diluted share, compared to net income attributable to Planet Fitness, Inc. of $8.8 million, or $0.14 per diluted share in the prior year period. Net income was $23.5 million, compared to net income of $17.9 million in the prior year period. Adjusted net income increased 42.3% to $26.2 million, or $0.27 per diluted share, compared to $18.4 million, or $0.19 per diluted share in the prior year period. Adjusted EBITDA increased 15.4% to $48.8 million from $42.3 million in the prior year period. 47 new Planet Fitness franchise stores were opened during the period, bringing system-wide total stores to 1,565 as of March 31, 2018. Read More...
Planet Fitness, Inc. Announces Fourth Quarter and Fiscal Year 2017 Results
Posted: February 22, 2018 in Chains
HAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT) reported financial results for its fourth quarter and fiscal year ended December 31, 2017 and announced full year 2018 outlook. Fiscal Year 2017 Highlights include: Total revenue increased from the prior year by 13.7% to $429.9 million. System-wide same store sales increased 10.2%. Net income was $55.6 million, which includes the net negative impact of approximately $17.2 million related to the remeasurement of the Company's deferred tax assets and tax benefit arrangements due to recent tax reform, compared to $71.2 million in the prior year. Adjusted net income increased 21.8% to $82.3 million, or $0.84 per diluted share, compared to $67.6 million, or $0.69 per diluted share in the prior year. 210 new Planet Fitness stores were opened system-wide during the year, bringing system-wide total stores to 1,518 at December 31, 2017. Read More...
Planet Fitness, Inc. Announces Third Quarter 2017 Results
Posted: November 7, 2017 in Chains
HAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT) reported financial results for its third quarter ended September 30, 2017. Third Quarter Fiscal 2017 highlights include: Total revenue increased from the prior year period by 12.1% to $97.5 million. System-wide same store sales increased 9.3%. Net income attributable to Planet Fitness, Inc. was $15.3 million, or $0.18 per diluted share, compared to net income attributable to Planet Fitness, Inc. of $3.4 million, or $0.08 per diluted share in the prior year period. Net income was $18.9 million, compared to net income of $14.9 million in the prior year period. Adjusted net income increased 17.9% to $18.7 million, or $0.19 per diluted share, compared to $15.9 million, or $0.16 per diluted share in the prior year period. Adjusted EBITDA increased 22.4% to $43.4 million from $35.4 million in the prior year period. 31 new Planet Fitness franchise stores were opened during the period, bringing system-wide total stores to 1,432 as of September 30, 2017. Read More...
Planet Fitness, Inc. Announces Second Quarter 2017 Results
Posted: August 9, 2017 in Chains
HAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT) reported financial results for its second quarter ended June 30, 2017. Second Quarter Fiscal 2017 highlights include: Total revenue increased from the prior year period by 17.3% to $107.3 million. System-wide same store sales increased 9.0%. Net income attributable to Planet Fitness, Inc. was $12.4 million, or $0.16 per diluted share, compared to net income attributable to Planet Fitness Inc. of $4.1 million, or $0.11 per diluted share in the prior year period. Net income was $18.0 million, compared to net income of $18.1 million in the prior year period. Adjusted net income increased 28.9% to $21.7 million, or $0.22 per diluted share, compared to $16.8 million, or $0.17 per diluted share in the prior year period. Adjusted EBITDA increased 30.3% to $47.9 million from $36.8 million in the prior year period. 37 new Planet Fitness franchise stores were opened during the period, bringing system-wide total stores to 1,403 at June 30, 2017. Read More...
ClubCorp Reports Thirteenth Consecutive Quarter of Revenue Growth
Posted: July 20, 2017 in Chains
DALLAS, TX - ClubCorp - The World Leader in Private Clubs (NYSE:MYCC) - announces financial results for its fiscal-year 2017 second quarter ended June 13, 2017: Revenue increased $7.4 million to $276.4 million, up 2.7%, for the second quarter of 2017. Net Income decreased $5.0 million to $0.8 million, down 86.2%, primarily due to higher selling, general and administrative expense related to centralization and transformation of administrative processes, finance processes and related IT systems, and impairment of assets related to recently divested clubs. Adjusted EBITDA(1) of $62.9 million, up 0.1%. Read More...
Gold’s Gym Experiences Strong First Quarter With Domestic And International Growth
Posted: May 3, 2017 in Chains
DALLAS, TX - Gold’s Gym, a trusted source on health and fitness, announced that, during the first quarter of 2017, it signed franchise agreements to open nine gyms in the U.S., with 23 additional locations currently under development in 12 countries internationally. These signings expand the brand’s presence in new and existing markets across the world, including Tennessee, New York, California and in nations such as Egypt and Australia. Gold’s Gym also opened 17 new locations both domestically and internationally, resulting in a total of 737 open gyms at the end of the first quarter. Read More...
Planet Fitness, Inc. Announces First Quarter 2017 Results
Posted: May 2, 2017 in Chains
NEWINGTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT) reported financial results for its first quarter ended March 31, 2017. Total revenue increased from the prior year period by 9.3% to $91.1 million. System-wide same store sales increased 11.1%. Net income increased 9.3% to $17.9 million, or $0.14 per diluted share, compared to net income of $16.3 million, or $0.09 per diluted share in the prior year period. Adjusted net income increased 21.2% to $18.4 million, or $0.19 per diluted share, compared to $15.2 million, or $0.15 per diluted share in the prior year period. Adjusted EBITDA increased 23.3% to $42.3 million from $34.3 million in the prior year period. 54 new Planet Fitness stores were opened system-wide compared to 48 in the year ago period, bringing system-wide total stores to 1,367 at March 31, 2017. Read More...
Town Sports International Holdings, Inc. Reports First Quarter 2017 Results
Posted: April 26, 2017 in Chains
NEW YORK, N.Y. - Town Sports International Holdings, Inc. (“TSI” or the “Company”) (NASDAQ: CLUB) reported financial results for its first quarter ended March 31, 2017. Total member count increased 7,000to 551,000 during Q1 2017 compared to an increase of 12,000 in Q1 2016. Membership monthly attrition averaged 3.9% per month in Q1 2017 compared to 3.5% per month in Q1 2016. Q1 2017 net loss was $2.9 million, or $0.11 loss per share, compared with Q1 2016 net loss of $6.9 million, or $0.28 loss per share. Adjusted EBITDA was $10.7 million in Q1 2017, an increase of 35.3% compared to Adjusted EBITDA of $7.9 million in Q1 2016. Read More...
