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☆ Parent of CycleBar, Pure Barre fitness studios sees shares whipsaw after CEO ousted, federal probe disclosed
▼ + stars: | 2024-05-13 | by ( Brandon Gomez | ) www.cnbc.com time to read: +1 min

Shares of Xponential Fitness , the parent company of CycleBar and Pure Barre fitness studios, bounced around in trading Monday after the company announced late Friday that CEO Anthony Geisler would be suspended indefinitely and would become an inactive member of the board. Xponential Fitness, which owns more than 3,000 boutique fitness and wellness studios globally, also said it received notice last week of a probe by the U.S. Attorney's Office for the Central District of California. Piper Sandler maintains a hold rating on Xponential Fitness stock, but lowered its price target to $9 from $12. Xponential Fitness' leadership had previously disclosed an SEC investigation in December, which alleged that the company provided false and/or misleading information to investors, including unit volume metrics and franchise closures. "The Company intends to continue cooperating with the SEC and intends to cooperate with the USAO," Xponential Fitness said in a press release announcing the executive changes.

Persons: Anthony Geisler, Brenda Morris, Korinne Wolfmeyer, Piper Sandler Organizations: U.S, Attorney's, Central, Central District of, SEC, Fitness Locations: CycleBar, Barre, Central District, Central District of California

☆ Planet Fitness is raising prices even as it warns customers are growing cost-conscious
▼ + stars: | 2024-05-09 | by ( Brandon Gomez | ) www.cnbc.com time to read: +3 min

Planet Fitness said it's hiking its base-level membership prices for new customers for the first time since 1998, even as the gym operator warns that customers are growing increasingly cost-conscious. Current members will continue to pay $10 per month "for the duration of their membership," Planet Fitness said Thursday alongside its quarterly earnings report. Planet Fitness also said it will start testing higher prices for its top-tier membership, known as the Black Card, this summer. Life Time members tend to be older, more affluent gymgoers, whereas Planet Fitness appeals to a younger, more budget-conscious consumer. The Street is bullish on a company turnaround from Planet Fitness' incoming CEO, Colleen Keating, who assumes the role on June 10.

Persons: Tom Fitzgerald, Craig Benson, Benson, Piper Sandler, Korinne Wolfmeyer, Colleen Keating Organizations: Time Holdings, White, Fitness

☆ Planet Fitness shares fall as company announces new CEO, though analysts see upside
▼ + stars: | 2024-04-16 | by ( Brandon Gomez | ) www.cnbc.com time to read: +1 min

Planet Fitness announced Tuesday that Colleen Keating will take over as the fitness club's new CEO, effective June 10. Craig Benson, who has been serving as interim CEO since the departure of Chris Rondeau in September, will remain on the board of directors. The announcement comes after months of searching, and some analysts are calling it a positive for the stock, despite shares falling more than 3% following the announcement. Keating has 30 years of experience in large-scale operations and franchise management, as well as leadership in global consumer-facing operations across hospitality, real estate, operations and franchise management. She previously held leadership roles at InterContinental Hotels Group and Starwood Hotels & Resorts Worldwide Inc.

Persons: Colleen Keating, Craig Benson, Chris Rondeau, Piper Sandler, Korinne Wolfmeyer, Wolfmeyer, Keating Organizations: Fitness, New, FirstKey, InterContinental Hotels Group, Starwood Hotels, Resorts Worldwide Inc

☆ Here were the biggest winners and losers from Black Friday
▼ + stars: | 2023-11-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Despite the seeming rush to shop, this Black Friday ushered in moderately higher promotions over last year and mixed in-store traffic, according to some Wall Street analysts. Black Friday winners Value-focused shopping destinations seemed to win big Friday, based on annual store checks from a slew of Wall Street shops. The Black Friday shopping extravaganza also ushered in some bullish sentiment toward Shopify . Black Friday losers Not every popular retailer seemed to kick off the holiday shopping period on a strong note. While Lululemon drove strong in-store traffic, helped in part by advertising use in Black Friday markdowns, Nike and Under Armour both showed higher promotions, said Piper Sandler's Abbie Zvejnieks.

Persons: Michael Lasser, Bradley Thomas, Thomas, Kohl's, Morgan Stanley, Alex Straton, Goldman Sachs, Kate McShane, JPMorgan's Matthew Boss, Piper Sandler's Korinne Wolfmeyer, Morgan Stanley's Keith Weiss, Bhavin Shah, shouldn't, Nordstrom, Straton, Lululemon, Armour, Piper Sandler's Abbie Zvejnieks, lululemon Organizations: Adobe Analytics, UBS, Walmart, KeyBanc Capital, Dick's Sporting Goods, Body, Deutsche, Eagle Outfitters, Nike Locations: U.S

☆ The 'Ozempic effect' is weighing on gym stocks. But it could turn out to be a boom for the industry
▼ + stars: | 2023-11-16 | by ( Brian Evans | ) www.cnbc.com time to read: +5 min

Will gym stocks be hurt by an "Ozempic effect" similar to the blow that has rocked the medical device and food sector? Stock in Planet Fitness has slipped more than 16% from the start of the year, while Life Time has added roughly 20%. Planet Fitness sunk to a 52-week low in September after the company's board ousted Chris Rondeau as chief executive officer . PLNT YTD mountain Planet Fitness stock. At Life Time, anti-obesity medication is being incorporated into the weight loss programs it offers to members.

Persons: Simeon Siegel, it's, Jefferies, Chris Rondeau, Bahram Akradi, Warren Cheng, PLNT, Cheng, Jeff Zwiefel, Alexander Perry's, Perry, Curtis Harman, Harman, It's, Piper Sandler, Korinne Wolfmeyer, Wolfmeyer Organizations: BMO Capital Markets, ISI, Bank of America, GLP, Wellness, CNBC, Holdings, Nordisk's Ozempic

☆ Piper Sandler upgrades Coty, says China exposure could boost beauty stock in 2023
▼ + stars: | 2023-01-03 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Beauty stock Coty could have a strong 2023, according to Piper Sandler. Analyst Korinne Wolfmeyer upgraded shares of Coty to overweight from neutral, saying in her 2023 beauty and wellness outlook that the stock is poised to benefit from several macro developments. However, the analyst expects that increasing exposure to China and travel retail will help the stock recover, while doubling down on luxury skincare and fragrance will boost margins for the company. The analyst's $10 price target, up from $8, implies the stock can rise more than 16% from Friday's closing price. Shares of Coty are up more than 2% in Tuesday premarket trading.

☆ Stocks making the biggest moves premarket: Tesla, Coty, PayPal and more
▼ + stars: | 2023-01-03 | by ( Michelle Fox | ) www.cnbc.com time to read: +1 min

A Tesla vehicle is displayed in a Manhattan dealership on January 30, 2020 in New York City. Check out the companies making the biggest moves in the premarket:Tesla — Shares fell 5% after reporting a record 40% growth in deliveries. JPMorgan analyst Ryan Brinkman cut his price target on the stock Tuesday, saying he sees more downside ahead. Coty is increasing exposure to China and travel retail, which should allow for recovery tailwinds, analyst Korinne Wolfmeyer said. PayPal — Shares gained nearly 3% premarket following an upgrade to a buy from a hold rating by Truist.

[1/2] People visit a retail store during the holiday season in New York City, U.S., December 15, 2022. So far, shopper visits to many retail segments, including apparel and electronics, are down year-over-year, according to foot-traffic data from Placer.AI. Zara, the fast-fashion chain, aggressively raised prices this year without turning off shoppers, while dollar stores including Dollar General (DG.N) expanded their array of merchandise. Dollar stores have also shown momentum as more consumers traded down. Discount and dollar stores saw visits up 1.1% year-over-year, and up 7.8% compared to Super Saturday 2019, according to Placer.AI foot-traffic data.

☆ How Ulta Beauty won Black Friday despite its site crashing on the critical shopping holiday
▼ + stars: | 2022-11-29 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Beauty retailer Ulta saw its foot traffic from shoppers increase on Black Friday over last year. Foot traffic at Ulta Beauty was up 16.5% over Black Friday 2021, according to data provider Placer.ai. By contrast, most retailers saw their foot traffic remain the same or decrease slightly over last year's Black Friday, according to Placer.ai. At TJ Maxx, one of the largest off-price retailers, traffic was even with Black Friday 2021. For instance, Ulta, Sephora, and other beauty retailers have become destinations for new skincare products.

☆ Olaplex is hit with a new lawsuit as the hair care brand faces mounting scrutiny
▼ + stars: | 2022-11-23 | by ( Alex Bitter | Sindhu Sundar | ) www.businessinsider.com time to read: +7 min

Hair care brand Olaplex is facing a lawsuit over its stock price drop since its 2021 IPO. Olaplex gained popularity on TikTok and other social media as a hair care routine product. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyLast fall, hair care brand Olaplex was riding high. It is seeking to represent a potential class of as many as "thousands" of investors who bought Olaplex stock after it went public, according to the complaint. The Olaplex spokesperson said that No.

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