All articles tagged with #fitness industry
The surge in GLP-1 weight-loss drugs is causing uncertainty in the fitness industry, with some gyms adapting by offering tailored programs and partnerships to support muscle maintenance and overall health, but it's still unclear whether these drugs will lead to increased or decreased gym attendance.
As more Americans turn to weight loss drugs like Ozempic and Wegovy, gyms are adapting their strategies to cater to this trend. Luxury gyms are acquiring weight loss clinics and designing exercise programs specifically for people taking GLP-1 medications, while low-cost gym chains may also benefit from the growth of these drugs. The industry is preparing for a future where more people take such medications, and companies like WeightWatchers and Nestlé are also adjusting their offerings to accommodate GLP-1 consumers.
Planet Fitness, the popular workout chain, shocked investors and employees by ousting CEO Chris Rondeau. The stock dropped 15% following the announcement. The company is now searching for a new CEO internally and externally, with former New Hampshire governor Craig Benson serving as interim CEO. Rondeau's departure appears sudden, and the reason behind the decision remains unclear. Despite a strong second-quarter earnings report, concerns over equipment plans and new franchises have made investors wary. Rondeau, who has been with the company for nearly 30 years, will continue as a member of the board of directors and provide advisory support during the transition.
Planet Fitness shares plunged 15% after the sudden ousting of CEO Chris Rondeau, leaving investors and employees shocked. The fitness chain is now searching for a new chief executive both internally and externally, while board member Craig Benson will serve as interim CEO. Rondeau's departure comes after a strong second-quarter earnings report, and the reason behind the decision remains unclear. Rondeau, who has been with the company for decades, will continue as a board member and will be nominated for re-election in 2024. The stock has dropped about 34% this year, resulting in a market value of approximately $4.47 billion.
Elaine LaLanne, known as the First Lady of Fitness, continues to shape the fitness industry at the age of 97. With a daily exercise routine and a positive mindset, she remains physically active and mentally sharp. After the death of her husband, Jack LaLanne, she has cultivated her own following, running their business and inspiring others through books, documentaries, and speaking engagements. Elaine LaLanne's lifelong commitment to exercise serves as a testament to the power of choosing how one wants to age and the importance of staying active.
Xperience Fitness has announced the permanent closure of all its clubs in Wisconsin, citing it as a difficult decision. The company expressed gratitude to its staff, trainers, and members for their support over the past 11 years. Xperience Fitness will now focus on serving its members in Minnesota, while memberships from the Appleton Club will be transferred to Planet Fitness.