1050 ET - Planet Fitness is doing an about-face on its efforts to raise membership prices, as consumers appear to be feeling more cash strapped. Chief Executive Colleen Keating tells investors that the gym chain's new membership rates in the most recent quarter didn't meet expectations. Planet Fitness had been testing price increases for its Black Card membership, but now thinks any price hikes could further dent membership growth, Keating says. The company is pausing the rollout of price increases, as a result. "We've identified two areas where we're sharpening and intensifying our focus this year: Driving member acquisition and reinforcing affordability," she says. Shares sink 33%. (katherine.hamilton@wsj.com)

(END) Dow Jones Newswires

May 07, 2026 10:50 ET (14:50 GMT)

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