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Health and Fitness Club Industry News: Chains

Wednesday, November 25th, 2020

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Planet Fitness, Inc. Announces Third Quarter 2020 Results
Posted: November 5, 2020 in Chains

Planet FitnessHAMPTON, 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 Awards $225,000 in Scholarships to 45 Boys & Girls Club Youth for Their Efforts to Promote a Kinder and More Inclusive World
Posted: September 17, 2020 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc., one of the largest and fastest-growing global franchisors and operators of fitness centers with more members than any other fitness brand, has announced the recipients of its annual Judgement Free Generation scholarships, which recognize teens for their commitment to promoting inclusion, acceptance and kindness. Following a record number of applications, 45 deserving youth from Boys & Girls Clubs throughout the country were each awarded $5,000 for their inspiring efforts to create a brighter, more accepting future. Read More...

Planet Fitness, Inc. Announces Second Quarter 2020 Results
Posted: August 5, 2020 in Chains

Planet FitnessHAMPTON, 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 to Require Face Masks in All Locations Effective August 1
Posted: July 27, 2020 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT), one of the largest and fastest-growing global franchisors and operators of fitness centers with more members than any other fitness brand, has announced that members and guests will be required to wear a mask at all times while inside all open stores, beginning August 1. Currently, all Planet Fitness employees are required to wear masks. To date, the company has approximately 1,450 locations open across 46 states, the District of Columbia, Canada and Australia. Read More...

Planet Fitness Donates More Than 10,000 Slices Of Pizza to Healthcare Workers Nationwide in Honor of Fitness Brand’s Pizza Monday
Posted: May 26, 2020 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc., one of the largest and fastest-growing global franchisors and operators of fitness centers with more members than any other fitness brand, recently donated more than 10,000 pizza slices, valued at $25,000, in honor of the fitness brand’s Pizza Monday, where members are traditionally treated to pizza on the first Monday of the month. The donation effort is in partnership with Pizza vs. Pandemic, an organization formed by Slice Out Hunger, Slice and Pizza to the Polls, who are feeding frontline workers by coordinating pizza deliveries with independent pizzerias. Read More...

Planet Fitness, Inc. Announces First Quarter 2020 Results and Provides COVID-19 Update
Posted: May 5, 2020 in Chains

Planet FitnessHAMPTON, 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 and iFit Unite to Bring New Streaming Workouts to Member’s Homes
Posted: April 13, 2020 in Chains, Suppliers

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT), one of the largest and fastest-growing global franchisors and operators of fitness centers with more members than any other fitness brand, has announced a partnership with iFit, a leader in streaming home workouts, and the pioneer in interactive connected fitness technology with more than 275 patents. As leaders in both the in-club and at-home connected fitness industries, Planet Fitness and iFit have united to create new in-home workouts for people of all fitness levels and interests that are fun, motivating and judgement free. Read More...

Planet Fitness Changes to a Virtual-Only Format for Its Annual Meeting of Shareholders
Posted: April 6, 2020 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT), one of the largest and fastest-growing global franchisors and operators of fitness centers with more members than any other fitness brand, has announced that, due to the public health and safety concerns related to the COVID-19 pandemic, the Company will change its 2020 Annual Meeting of Shareholders (including any adjournments or postponements, the "Annual Meeting") to a virtual-only format. As previously announced, the Annual Meeting will be held at 2:00 PM EST on Thursday, April 30, 2020. Read More...

Planet Fitness Provides Business Update in Response to COVID-19
Posted: March 30, 2020 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT), one of the largest and fastest-growing global franchisors and operators of fitness centers with more members than any other fitness brand, has provided a further update on its response to COVID-19. Read More...

Planet Fitness Provides Update on COVID-19
Posted: March 18, 2020 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT), one of the largest and fastest-growing global franchisors and operators of fitness centers with more members than any other fitness brand, has announced updates to its business operations. In response to the evolving COVID-19 pandemic, and with the majority of stores system-wide temporarily closed as March 17, Planet Fitness has made the decision to close the remainder of its corporate stores through March 31st and is strongly urging its franchisees to do the same. The Company will reevaluate the timing of reopening on an ongoing basis. Planet Fitness has recently enhanced the functionality of its mobile app to include access to fitness content and over 500 exercises for in-home workouts. The company is encouraging members to utilize this amenity during this time of social distancing. Read More...

Planet Fitness Appoints Enshalla Anderson to Board of Directors
Posted: February 3, 2020 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT), one of the largest and fastest-growing franchisors and operators of fitness centers in the United States with more members than any other fitness brand, has announced the appointment of Enshalla Anderson to its Board of Directors, effective immediately. Additionally, the Company has announced internal senior leadership appointments focused on strengthening its leadership team to support its accelerating growth. Read More...

Planet Fitness Will Once Again be the National Gym Sponsor of USA Network’s “The Biggest Loser”
Posted: January 24, 2020 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc., one of the largest and fastest-growing global franchisors and operators of fitness centers with more members than any other fitness brand, announced it is the official national gym partner of the reboot of the popular TV series, 'The Biggest Loser.' A revamped version of the original hit series, 'The Biggest Loser,' will provide 12 contestants with a 360-degree view of what it takes to make positive lifestyle changes. Contestants will then prepare for each week's challenge in 'The Biggest Loser' gym that is completely equipped by Planet Fitness. Read More...

Planet Fitness Ranked #7 In Entrepreneur Magazine’s Franchise 500
Posted: January 16, 2020 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT), one of the largest and fastest-growing global franchisors and operators of fitness centers with more members than any other fitness brand, has announced it has been ranked number seven in Entrepreneur Magazine's Franchise 500, the world's first, best and most comprehensive franchise ranking, for its outstanding performance in areas including unit growth, financial strength and stability, and brand power. Read More...

Planet Fitness Reaches 2,000th Location Milestone
Posted: January 7, 2020 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT), one of the largest and fastest-growing global franchisors and operators of fitness centers with more members than any other fitness brand, announced that it has opened its 2,000th location in Colorado Springs, Colorado on December 31st, 2019. The Company also opened its 2,001st location on December 31, 2019, bringing its 2019 total openings to a record 261. Read More...

Justin Drummond Named COO of PF Growth Partners
Posted: December 26, 2019 in Chains

Planet FitnessTIMONIUM, MD - PF Growth Partners, LLC, an award-winning franchise division of Planet Fitness, has promoted Justin S. Drummond to Chief Operating Officer. Drummond joined PF Growth Partners in February 2010 as General Manager of the Planet Fitness club in Catonsville, Maryland. As regional manager, he later facilitated the opening of the 1,000th Planet Fitness club, located in Washington, DC. He has advanced to manage operations in the Maryland, District of Columbia and Florida markets, served as interim COO from March 2019 to December 2019 and earned the distinction of being PF Growth Partners’ longest-tenured employee. Read More...

PF Growth Partners Making International Debut
Posted: December 19, 2019 in Chains

Planet FitnessBALTIMORE, MD - PF Growth Partners, LLC, an award-winning franchise division of Planet Fitness, is going global. The Timonium, Maryland-based company is one of three partners in Bravo Fit Holdings Pty Ltd. that recently entered into an area development agreement with Planet Fitness to bring a minimum of 35 Planet Fitness clubs to Australia over the next several years. Its other associates in the venture are U.S. franchisee, Bravo Fit, LLC, and Galactic Fitness Pty, which is owned and operated by leading Australian fitness operator, Dallas Rosekelly. Read More...

Planet Fitness Returns As Presenting Sponsor of Times Square’s Iconic New Year’s Eve Celebration
Posted: December 18, 2019 in Chains

A Planet Fitness New Year's EveHAMPTON, N.H. - Planet Fitness, Inc., one of the largest and fastest-growing franchisors and operators of fitness centers in the U.S. and home of the Judgement Free Zone, has announced that it will again play host to the biggest party on the planet on New Year's Eve. In partnership with Times Square Alliance and Countdown Entertainment, the Judgement Free Zone is returning as the presenting sponsor of Times Square's New Year's Eve celebration for the fifth consecutive year. Read More...

Planet Fitness Strengthens Management Team with the Addition of Tom Fitzgerald as Chief Financial Officer
Posted: December 10, 2019 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT), one of the largest and fastest-growing franchisors and operators of fitness centers in the U.S., has announced that Tom Fitzgerald has been appointed Chief Financial Officer. Officially joining the Company in early January, Fitzgerald will be responsible for all aspects of financial strategy and management. He will report directly to Chris Rondeau, Chief Executive Officer of Planet Fitness. Fitzgerald will succeed Dorvin Lively who has served as Planet Fitness’ Chief Financial Officer since July 2013, and was promoted to Chief Financial Officer and President in April 2017. Read More...

Planet Fitness Prices $550 Million Securitized Financing
Posted: November 20, 2019 in Chains

Planet FitnessHAMPTON, 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 Names Jeremy Tucker Chief Marketing Officer; Expands Global Footprint to Australia
Posted: November 8, 2019 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT), one of the largest and fastest-growing franchisors and operators of fitness centers in the U.S., has announced that Jeremy Tucker has been appointed Chief Marketing Officer. Tucker will be responsible for overseeing the Company's national and local marketing, branding, creative development and media, digital and social media, brand partnerships and sponsorships, communications and corporate social responsibility. He will report directly to Chris Rondeau, Chief Executive Officer of Planet Fitness. Planet Fitness has also has announced the company's international expansion to Australia. The country's first official Judgement Free Zones are located in Tuggerah and Gosford in the Central Coast of New South Wales, and a location in Casula is expected to open in 2020. Read More...

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