New Store Openings and Strong Comps Power Planet Fitness Inc’s Earnings Growth
Planet Fitness reported fourth quarter results on March 3. The fitness chain is enjoying strong increases in same-store sales even as it rapidly opens new gyms — a powerful combination that’s fueling healthy growth in revenue and profits.
What happened with Planet Fitness this quarter?
Planet Fitness opened 84 new franchise stores in the fourth quarter, bringing its total store count to 1,124 at the end of 2015. The company also experienced an impressive 6.2% increase in system-wide same-store sales. Together, that helped drive a 10.2% year-over-year rise in total revenue to$105.8 million.
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