Planet Fitness announces key year-end operational metrics

As of December 31, 2023, Planet Fitness grew its membership to approximately 18.7 million members, an increase of 1.7 million since the end of 2022, and full year system-wide same store sales increased by 8.7 percent. Additionally, in 2023, the company placed equipment in 135 new franchised locations and opened 165 new Planet Fitness stores, including 18 corporate-owned locations, bringing system-wide total stores to 2,575. “We are pleased to have delivered another strong year of member growth, demonstrating important momentum for our business, and continued recovery from the impact of COVID interruptions. Our New Growth Model, which reduces the capital requirements for opening and operating a Planet Fitness location, underscores our focus on utilizing a disciplined, data-driven approach to improving store level returns. As we navigate a dynamic macro-economic environment, we remain committed to delivering long-term sustainable growth while balancing the needs of all stakeholders, including the franchisor, franchisees, shareholders, and most importantly, our members,” said Craig Benson, Interim CEO. “The search for our new CEO is well underway. The Board is focused on finding a leader they believe will guide us in capturing the growth opportunities that lie ahead.”