Multiple Planet Fitness locations in Connecticut have been targeted by bomb threats, leading to evacuations and concerns among members. East Haven police are working with state and federal officials to identify the perpetrator, while gym-goers express worry and call for increased police presence. Despite the threats being deemed unfounded, the incidents have sparked unease and prompted calls for heightened security measures.
Kid Rock has moved on from his feud with Bud Light and is now targeting Planet Fitness, Ben & Jerry's, and Target for potential right-wing outrage. He criticized Planet Fitness for an incident involving a transgender member and called out Ben & Jerry's and Target for unspecified reasons. Despite claiming not to want to harm people's jobs, he continues to identify new targets for criticism.
Planet Fitness faced a $400 million drop in valuation following backlash over its transgender locker room policy, which resulted in the revocation of a woman's membership for taking photos of a transgender individual in the women's locker room. Critics, including conservative groups and even Elon Musk, have called for a boycott, accusing the chain of creating unsafe spaces for women. The controversy has sparked a debate over gender identity and privacy in public facilities.
The developer of the property and a representative from Planet Fitness have both denied that NextSite, LLC played any role in bringing the fitness center to Quincy, Illinois. Despite this, a resolution is being presented to the Quincy City Council to approve a $15,000 success fee to NextSite for their alleged recruitment efforts. The developer and Planet Fitness representative claim that NextSite had no involvement in bringing Verizon Wireless or Planet Fitness to Quincy, and that the deals were solely orchestrated by them. The city has expressed concerns about NextSite taking credit for their work, and their contract with the company will end in January.
Planet Fitness shares surged after the company beat expectations for the third quarter and raised its revenue outlook for the year. The gym chain reported adjusted earnings per share of 59 cents, surpassing the expected 55 cents, and revenue of $277.6 million, higher than the expected $268.2 million. Planet Fitness expects to achieve 14% revenue growth for the year, up from its previous guidance of 12%. The company's interim CEO, Craig Benson, outlined the company's growth strategy, which includes adjusting the store-level return model and experimenting with price increases for its "Classic Membership."
US stocks ended the week lower as the major indexes failed to build on a Thursday rally. The S&P 500 finished down 1.2%, the Dow Jones Industrial Average slumped by 0.8%, and the tech-heavy Nasdaq Composite plunged 1.6%. Concerns about the world's second-largest economy eased as China reported that its economy picked up steam last month. The United Auto Workers union launched a historic strike at select Big Three automaker plants. Homebuyers are canceling deals at the highest rate in nearly a year due to elevated interest rates and home prices. The number of companies offering student loan repayments as part of their benefits package has doubled over the past year. Planet Fitness shares tumbled after CEO Chris Rondeau stepped down.
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.
General Motors, Stellantis, and Ford saw slight gains as a targeted strike by the United Auto Workers began, while Planet Fitness shares slid 13% after the gym chain's CEO was pushed out. Nucor fell 5% after offering worse-than-expected guidance, PTC Therapeutics plummeted 28.3% following a negative opinion from the European Medicines Agency, and Core & Main retreated over 3% after announcing a secondary stock offering. Arm Holdings slipped as Needham initiated coverage with a hold rating, and shares of Insulet and Dexcom fell after reports of Apple selecting a new leader for its noninvasive blood sugar monitoring device team. Chip equipment stocks dropped due to concerns over Taiwan Semiconductor delaying deliveries, and Adobe shares dropped 4% despite beating earnings and revenue expectations. Apellis Pharmaceuticals advanced following a Wells Fargo upgrade, DoorDash shares fell after a downgrade, and Axis Capital rose after an upgrade. Estée Lauder also saw a boost after an upgrade from Redburn Atlantic Equities.
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.
The death of a man found outside a Planet Fitness in Greenville, North Carolina, has been determined to be a homicide after an autopsy revealed he had been shot. Jayden Harrison, 21, was found dead in the parking lot, and detectives are urging anyone with information to come forward. A reward of up to $2,500 is available for information leading to an arrest.
The Greenville Police Department is investigating the death of a 21-year-old man whose body was found in the parking lot of a Planet Fitness. The circumstances and the victim's age have led investigators to treat the case as a suspicious death. The cause of death remains inconclusive pending an autopsy, and the victim's name will be released after notifying the family. Anyone with information is urged to contact Crime Stoppers.
Xperience Fitness, a gym chain based in Wisconsin, has abruptly closed all of its locations across the state, with membership being automatically transferred to Planet Fitness. The closure comes without explanation, and the company has not provided any details regarding the reason behind it. Membership perks will be honored until the end of July, and operations will continue in Minnesota.
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.
Xperience Fitness has announced the permanent closure of all its Wisconsin fitness clubs, including locations in Appleton, Greenfield, Green Bay, Waukesha, Brookfield, Hales Corners, and West Allis. The decision was described as difficult, and the company expressed gratitude to staff, trainers, and members for their support over the past 11 years. Memberships have been automatically transferred to Planet Fitness to ensure uninterrupted access to workouts.
