Town Sports International (TSI), New York, had a decrease in revenue and net income in second quarter 2014, according to financials released by the company. TSI also announced it is converting at least 20 clubs this year to a high-volume/low-price model and will close nine clubs.
The fitness segment of Brunswick Corp., Lake Forest, IL, which is comprised of Life Fitness and Hammer Strength equipment, had an increase in sales but a decrease in operating earnings in second quarter 2014.
Precor, Woodinville, WA, had a 1 percent increase in sales in second quarter 2014 as well as for the first six months of the year, according to financials released last week by parent company Amer Sports, Helsinki, Finland.
Gold's Gym, Dallas, is making its second acquisition of 2014 with the purchase of all 23 clubs operated by The Rush Fitness Complex, Knoxville, TN. The deal was signed last Friday and will close next month.
Preview video: Eric Affeldt, CEO of Club Corp, Dallas, shares his thoughts on the future of luxury clubs, how they are changing, how they compete with low-priced clubs and what other clubs can learn from them....More