Membership Growth of 1.7 Million since Year End
of 2022
Full Year System-Wide Same Store Sales Increase of 8.7%
165 New Planet Fitness Stores
Equipment placed in 135 new franchised locations
Company to discuss operating metrics in fireside
chat at the ICR Conference on Tuesday,
January 9, 2024
HAMPTON,
N.H., Jan. 8, 2024 /PRNewswire/ -- 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, today provided an overview of key year-end
operational metrics.
As of December 31, 2023, Planet
Fitness grew its membership to approximately 18.7 million members,
an increase of 1.7 million since the end of 2022, and full year
system-wide same store sales increased by 8.7 percent.
Additionally, in 2023, the Company placed equipment in 135 new
franchised locations and opened 165 new Planet Fitness stores,
including 18 corporate-owned locations, bringing system-wide total
stores to 2,575.
"We are pleased to have delivered another strong year of member
growth, demonstrating important momentum for our business, and
continued recovery from the impact of COVID interruptions. Our New
Growth Model, which reduces the capital requirements for opening
and operating a Planet Fitness location, underscores our focus on
utilizing a disciplined, data-driven approach to improving store
level returns. As we navigate a dynamic macro-economic environment,
we remain committed to delivering long-term sustainable growth
while balancing the needs of all stakeholders, including the
franchisor, franchisees, shareholders, and most importantly, our
members," said Craig Benson, Interim
Chief Executive Officer. "The search for our new CEO is well
underway. The Board is focused on finding a leader they believe
will guide us in capturing the growth opportunities that lie
ahead."
Full Year Results
The Company plans to release its full fiscal year 2023 results
and a 2024 outlook on February 22,
2024.
Live Webcast
Management's previously announced fireside chat presentation at
the 2024 ICR Conference is scheduled for January 9, 2024, at 1:00
pm Eastern Time.
A live webcast of the presentation will be available at
http://investor.planetfitness.com.
About Planet Fitness
Founded in 1992 in Dover, NH, Planet Fitness is one of the
largest and fastest-growing franchisors and operators of fitness
centers in the world by number of members and locations. As of
December 31, 2023, Planet Fitness had
approximately 18.7 million members and 2,575 stores in 50 states,
the District of Columbia,
Puerto Rico, Canada, Panama, Mexico and Australia. The Company's mission is to enhance
people's lives by providing a high-quality fitness experience in a
welcoming, non-intimidating environment, which we call the
Judgement Free Zone®. More than 90% of Planet Fitness stores are
owned and operated by independent business men and women.
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SOURCE Planet Fitness, Inc.