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.
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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
