PLNT - Planet Fitness raising new member fees as memberships slow and cancels remain 'elevated'
2024-05-10 11:23:16 ET
Planet Fitness ( NYSE: PLNT ) is hiking rates for its long-standing $10 Classic Card membership effective this summer to $15 even as the company is struggling to gain new members. CEO Thomas Fitzgerald admitted to the challenges in luring in new members during the company’s earning call, acknowledging that Planet Fitness ( PLNT ) failed to meet its objectives as a result of the ineffectiveness in its advertising campaign and less urgency for people to “get off the couch and join.”...
Planet Fitness raising new member fees as memberships slow and cancels remain 'elevated'