Stock Groups

Planet Fitness gym visits holding up against Covid omicron variant

[ad_1]

One customer is wearing a face mask while lifting weights in a Planet Fitness Gym as it reopens after having been closed for the Covid-19 pandemic on March 16, 2021, Inglewood, California.

Patrick T. Fallon | AFP | Getty Images

Planet FitnessAccording to Chris Rondeau, the chief executive officer of the chain, gym attendance and growth are holding up against the Covid Omicron version.

Rondeau, a Monday interview on CNBC’s “The Observer,” said that before there was any vaccine, “We did see a pullback of joins and exercises and cancellation-spiking.”Squawk Box.”

We are not experiencing a pullback during the omicron and delta variant. It’s not like members are slowing down to get in. Joins are not slowing down. The CEO stated that cancellations are not increasing.

Rondeau explained that Planet Fitness members are going into their gyms to exercise more than in the past. The safety and health protocols at the gyms are more appreciated by members, and they place greater importance on their fitness goals.

According to data from Jefferies, U.S. gym visits in October fell just 8.8% from pre-pandemic 2019 levels. It’s well ahead of the anticipated surge in visits and sign ups, which typically occurs at the start of the year due to consumers making resolutions for healthy living.

“We saw some great, great momentum last year — we saw a second- and third-quarter growth that we had never seen before,” Rondeau said. “Member training is slightly lower than in 2019.

Planet Fitness shares increased by 17% between 2021 and now. PelotonIn the meantime, a drop of 76% has been recorded in.

[ad_2]