Planet Fitness, Inc.: Why We Are Neutral Despite Their Membership Growth and Retention Focus! 

Planet Fitness has provided a detailed update on its performance and strategic plans during the first quarter of 2024. The company reported a growth in its membership base, ending the quarter with approximately 19.6 million members. This represents an increase from the prior period but fell short of the company’s expectations for what is typically a robust quarter for new memberships. The growth was primarily attributed to a 6.2% increase in same-store sales, driven predominantly by new member growth.