Q1 Fiscal 2022 Earnings Launch
Gymnasium operator Planet Fitness (NASDAQ: PLNT) inventory is in its personal bear market buying and selling down (-29%) for the yr. The epicenter health gymnasium trade has seen a rebound in enterprise with the acceleration of COVID vaccines and boosters. Planet Health members grew to all-time highs of 16.21 million members in fiscal Q1 2022 and it opened 37 new gyms. The return to regular is accelerating as February and March 2022 noticed 30% of its areas return to 2019 pre-pandemic members ranges. There was apparently pent-up demand to expertise exercises in a gymnasium. The pandemic precipitated lots of opponents to give up or consolidate. Their loss was Planet Health’ achieve with fewer opponents. The Firm accomplished its acquisition of Sunshine Health and launched its Excessive College Summer time Move program that gives entry to free exercises over the summer season. That is an initiative to develop its footprint among the many Gen-Z demographic, which prioritizes an active lifestyle extra so than earlier generations. The Firm can be getting into the New Zealand and Mexico markets. As COVID wanes, the frequency of engagements continues to rise. Prudent buyers looking for publicity to the most important participant within the health gymnasium trade can search for opportunistic pullback ranges in shares of Planet Health.