Planet Fitness, Inc. operates and franchises fitness clubs under a subscription-based model and reports developments across its Franchise, Corporate-owned clubs and Equipment segments. News commonly covers quarterly and annual results, system-wide same-club sales, membership trends, club openings, equipment placements in franchisee-owned locations and updates to operating outlook.
The company’s updates also address its club network in the United States and select international markets, franchisee activity, membership initiatives, board appointments and executive finance leadership changes.
Planet Fitness (PLNT) reported a 77.9% revenue decline to $40.2 million for Q2 2020, primarily due to COVID-19 related store closures. The net loss was $29.2 million, contrasting with a $34.8 million profit in the same quarter last year. Adjusted EBITDA also fell 112.1% to a loss of $9.3 million. Despite challenges, 1,477 stores have reopened, and the company plans to navigate through industry consolidation amid ongoing health concerns. However, it has withdrawn its 2020 financial guidance due to uncertainty.
Planet Fitness (NYSE: PLNT) announced that effective August 1, all members and guests will be required to wear masks at all locations. Currently, employees are also mandated to wear masks. Approximately 1,450 locations are open across 46 states, the District of Columbia, Canada, and Australia. The CEO emphasized the importance of wellness during the COVID-19 pandemic, stating gyms are crucial to health care. Enhanced cleanliness and social distancing measures are in place, along with a new Crowd Meter feature on the mobile app to monitor club capacity.
Planet Fitness is set to report its second quarter 2020 results after market close on August 4, 2020. The announcement was made from Hampton, NH on July 21, 2020. A conference call discussing the results will take place at 4:30 p.m. ET on the same day. Interested parties can access a live webcast of the call at investor.planetfitness.com, with a replay available for a year after.
As of March 31, 2020, Planet Fitness boasted over 15.5 million members and 2,039 locations.
Planet Fitness, Inc. (NYSE: PLNT) has announced its upcoming participation in the 2020 Jefferies Virtual Consumer Conference, scheduled for June 23, 2020, at 11:00 am Eastern Time. The presentation will be accessible online, providing insights into the company's operations and growth. As of March 31, 2020, Planet Fitness reported over 15.5 million members and 2,039 stores across various regions including the U.S., Canada, and Australia. The company aims to offer a welcoming fitness environment through its Judgement Free Zone® mission.