Planet Fitness memberships grow 1.7m in 2023, same-store sales rise 8.7%

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Planet Fitness memberships grow 1.7m in 2023, same-store sales rise 8.7%
Credit: © Reuters.

Planet Fitness (NYSE: PLNT ) reported its key 2023 metrics Monday, ahead of its scheduled presentation at the 2024 ICR Conference tomorrow.

The fitness center franchisor and operator revealed that as of December 31, its membership numbers grew to approximately 18.7 million, representing an increase of 1.7 million since the end of 2022. In addition, system-wide same-store sales rose by 8.7%.

In 2023, Planet Fitness 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.

The company said the momentum in its business following the Covid interruptions has continued.

"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, PLNT's interim CEO.

He added that the search for the company's new CEO is well underway. PLNT will report its full fiscal year 2023 results on February 22.

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