May 9, 2024 - Business

Learnings from earnings

Illustration of a brain shaped like a dollar sign

Illustration: Natalie Peeples/Axios

Here are my key takeaways from several major earnings reports:

๐Ÿƒโ€โ™€๏ธPlanet Fitness: The chain lowered its outlook for 2024 after a disappointing start to the year and said it's raising its base monthly membership fee for newcomers from $10 to $15.

๐Ÿ‘œ Tapestry: The owner of Coach and Kate Spade reported a 1.8% revenue decline, putting additional pressure on the luxury goods company to complete its proposed acquisition of Capri Holdings โ€” a deal the FTC is trying to block.

๐Ÿ“บ Warner Bros. Discovery: As NBA rights negotiations continue, the company is "hopeful that we'll be able to reach an agreement that makes sense for both sides," CEO David Zaslav said.

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This story was an excerpt from Axios Closer, a recap on the day's biggest business stories.

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