The brand reported a positive quarter with a growth in same-store sales, revenue and openings.
Planet Fitness has announced the financial results of its second quarter. According to a recent release, the brand’s revenue increased by over 30 percent. During this time period, the company opened a total of 44 new franchised locations. The brand is confident that it will be able to continue this momentum throughout the last two quarters in order to finish with an annual growth of roughly 26 percent.
“While we are very pleased with our many recent accomplishments, we believe the future is even brighter for our Company. There are numerous expansion opportunities for our high value, low cost non-intimidating fitness concept in the U.S. and internationally, we are pursuing exciting ways to enhance the member experience, and our strong cash generation and recent debt refinancing provide us with a high level of flexibility to return capital to shareholders,” said CEO Chris Rondeau.
Check out the full release here.