Fitness stocks fall as Q2 sales dip and new CFO arrives

Investors in two major fitness franchises saw their portfolios shrink this month. Xponential Fitness shares closed at $4.73 on October 8, marking a 21 percent gain from September 10 but a 42 percent loss from the start of the year. Planet Fitness shares fell to $43.36 on the same date, down 13 percent from September 10 and 60 percent from their January opening price of $109.73.

The decline for Xponential follows a steady drop since 2025. The company, which owns Club Pilates, Pure Barre, and YogaSix, began 2025 with a closing price above $17. By the end of that year, the stock had settled into a range between $5 and $8. In 2024, the price typically hovered between $11 and $18, and in 2023, it often traded between $15 and $30.

The stock price movements coincide with recent financial disclosures. Xponential reported $66 million in revenue for the second quarter, a 13 percent decrease from the same period in 2025. North American same-store sales dropped 6.8 percent, while systemwide sales remained flat at $437.3 million. Franchise revenue declined 3 percent year over year to $44 million.

The company adjusted its forecasts in the second-quarter report. It lowered its projection for net studio openings to approximately 150, down from a previous estimate of 150 to 170. Systemwide sales projections were also cut to a range of $1.7 billion to $1.75 billion, below the earlier forecast of $1.72 billion to $1.8 billion. CEO Mike Nuzzo said the company continues to prioritize studio growth and digital capabilities despite results being below expectations.

Planet Fitness reported stronger top-line growth, with total revenue reaching $365.2 million in the second quarter, a 7.1 percent increase from the prior year. Systemwide sales rose $66.6 million to $1.4 billion. Despite these figures, the stock has struggled, having traded between $90 and $112.75 for most of 2025.

Corporate actions at Xponential have accelerated recently. In April, the company hired Jefferies to evaluate strategic alternatives, including a potential merger or sale. In October, it appointed Jennifer Ryu as chief financial officer. The board also adopted a limited-duration stockholder rights plan to prevent investors from accumulating large positions without negotiating with the board first.

The stock price data reflects these ongoing adjustments. Xponential shares began 2026 at $8.02 and have since fluctuated, hitting a low of $4.26 during the period. Planet Fitness shares, which started the year near $110, have now settled below $50, reflecting the broader pressure on the sector's valuation.