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Expand chart
Data: FactSet; Chart: Axios Visuals

Fitness centers are in trouble, especially in the U.S., according to a new report that surveyed nearly 12,000 gym members.

What we're hearing: "The data over the past year is clear, the situation hasn’t improved," Nick Rizzo, fitness research director at RunRepeat, says in an email.

  • The survey found that cancellation rates rose from 12.4% during initial COVID-19 lockdowns to 29.8% currently.
  • 55.6% of members have either canceled or paused their membership since the start of the pandemic.
  • Even though half of gym members said they would return after the lockdowns, 30% had gone back as of August and 71% are still not exercising at their gyms.
  • Less than half of survey respondents say they will go back after they are vaccinated, while 24.2% are waiting until their family, friends and loved ones also are vaccinated.

The intrigue: Globally, 27.5% of gym members say they do not intend to return to the gym. That number jumps to 35% in the U.S.

What the market thinks: Defying the reopening trend that has seen airlines, oil and entertainment stocks boom over the past six months, gyms are struggling.

  • Shares of Planet Fitness, one of the last remaining public equity plays for large fitness centers, are down 5% from three months ago.
  • However, Planet Fitness has performed much better than at-home fitness companies Peloton and Nautilus, which have seen share prices decline by 37% and 27% respectively in the last three months.

Go deeper

16 seconds ago - World

Scoop: Ukraine tells senators post-invasion sanctions are no help

Zelensky. Photo: Johanna Geron/POOL/AFP via Getty Images

Ukrainian President Volodymyr Zelensky told U.S. senators visiting Kyiv this week that waiting to impose sanctions on Russia until after an invasion is of no use to Ukraine, according to four sources familiar with the discussions.

Why it matters: The Senate is currently working on a major sanctions package to deter Russia from attacking Ukraine. Democrats and Republicans are united in their support for Ukraine, but divided over whether it would be more effective to sanction Russia now to signal resolve, or hold up the threat of future sanctions to demonstrate the high costs of an invasion.

Starbucks drops worker vaccine or test requirement after SCOTUS ruling

Photo: Jakub Porzycki/NurPhoto via Getty Images

Starbucks has dropped plans to require that U.S. workers get the COVID vaccine or submit to weekly testing, the company announced Tuesday in a memo to employees.

Why it matters: The company's decision comes in response to the Supreme Court's ruling last week to block the Biden administration's COVID-19 vaccine-or-test requirement for large employers.

4 hours ago - World

Netanyahu plea talks enter crunch time

Netanyahu (right) meets with his lawyer ahead of a court hearing last February. Photo: Reuven Casto/Pool/AFP via Getty

Benjamin Netanyahu, Israel's opposition leader and former prime minister, is negotiating a possible plea deal over the corruption charges against him, but Attorney General Avichai Mandelblit appears to be toughening his terms.

Why it matters: Mandelblit leaves office on Jan. 31. Negotiations could continue beyond that point, but the next attorney general may be less interested in quickly reaching a deal.

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