2 months ago

SoulCycle to Close 25% of Its Locations

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SoulCycle , to Close 25% , of Its Locations .
CNN reports that indoor cycling
studio SoulCycle is getting ready to
close approximately 25% of its locations.
The news comes as another signal
that people's exercise habits continue to
adapt amid the ongoing COVID-19 pandemic.
SoulCycle will close about
20 of its 83 studios in the coming days.
As riders continue to return
to in-studio classes there have been
many shifts as a result of the pandemic, SoulCycle spokesperson, via CNN.
As riders continue to return
to in-studio classes there have been
many shifts as a result of the pandemic, SoulCycle spokesperson, via CNN.
According to a SoulCycle spokesperson, some of
those shifts are geography-based and the company , "assess[ed] whether there is an opportunity
to right-size in certain markets.".
According to a SoulCycle spokesperson, some of
those shifts are geography-based and the company , "assess[ed] whether there is an opportunity
to right-size in certain markets.".
On August 12, Peloton revealed
additional layoffs, price hikes and the
closure of many retail showrooms.
CNN reports that the fitness industry has been hit
hard by the pandemic, with about one-third of
fitness locations closing their doors for good.
According to a report from the fitness
advisory group IHRSA, gyms closing
down resulted in the loss of 1.5 million jobs.
At the same time, some affordable
gym chains, like Planet Fitness,
have managed to thrive. .
Last week, the chain reported
that its membership base
had jumped to 16.5 million.
We believe our high-quality affordable
fitness experience will resonate now more
than ever as Americans are seeking value
and feeling the rising costs of everyday
items, such as food and gas, Chris Rondeau, Planet Fitness CEO, via CNN.
We believe our high-quality affordable
fitness experience will resonate now more
than ever as Americans are seeking value
and feeling the rising costs of everyday
items, such as food and gas, Chris Rondeau, Planet Fitness CEO, via CNN

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