By Daniella Parra
Planet Fitness, Inc. (NYSE: PLNT) said second quarter total revenue increased 27.6% to $286.5 million as the chain opened 26 new stores.
Adjusted EBITDA increased $29.8 million to $118.9 million from $89.1 million in the prior year period, it said in a statement.
System-wide same store sales increased by 8.7%, it said. The chain opened three corporate-owned and 23 franchisee-owned stores, bringing system-wide total stores to 2,472, it added.
“Our judgement free, high-quality, and affordable fitness experience continues to resonate with consumers as all generational groups have surpassed their pre-pandemic penetration levels,” said CEO Chris Rondeau. “More of our members are working out more frequently, previous members are rejoining at a faster rate than they did pre-pandemic, and they’re staying longer as Q2 was our eighth straight quarter with lower year-over-year cancellation rates.”
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