Planet Fitness is ditching the $10 membership it has had for 26 years, and hiking basic prices by 50% [Business Insider]
Planet Fitness, Inc. (PLNT)
Last planet fitness, inc. earnings: 2/25 04:05 pm
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Source: Business Insider
The price increase will be introduced in the summer and will only apply to new members. Planet Fitness is hiking the price of its basic membership plan by 50% after holding it at $10 a month for 26 years The new $15 charge will come into effect in the summer and will only apply to new members, interim CEO Craig Benson told investors Thursday. Current members on $10-a-month plans won't be affected by the change, CFO Thomas Fitzgerald said. The price is for Planet Fitness's Classic Card, which gives users unlimited access to one gym Benson said that Planet Fitness had started testing $12.99 and $15 price points in the fall. The $15 fee drove the biggest increase in average revenues per gym "with the least impact to the rate of joins," he said. Planet Fitness isn't the only company to ditch its trademark price point as inflation pushes up how much businesses pay for staff, goods, and overheads. Dollar stores have been dropping their $1 price point and fast-food chains have bee
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News
- Even a Fraud Conviction Won't Keep Nikola's Founder Away From the Company [Yahoo! Finance]Yahoo! Finance
- PLANET FITNESS' HIGH SCHOOL SUMMER PASS™ RETURNS; TEENS WORK OUT FREE JUNE 1 - AUGUST 31 [Yahoo! Finance]Yahoo! Finance
- Planet Fitness offers free summer workout pass for teens, high school students [Yahoo! Finance]Yahoo! Finance
- Planet Fitness, Inc. (NYSE: PLNT) was upgraded by analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating. They now have a $78.00 price target on the stock, up previously from $68.00.MarketBeat
- Analyst revamps Planet Fitness stock price target after membership change [Yahoo! Finance]Yahoo! Finance
PLNT
Earnings
- 5/9/24 - Beat
PLNT
Sec Filings
- 5/9/24 - Form 10-Q
- 5/9/24 - Form 8-K
- 5/6/24 - Form 8-K
- PLNT's page on the SEC website