PureGym back to 2019 levels as it records 1mln workouts on first week of reopenings
The gym operator has reopened 56% of its estate in England and Switzerland
Company
The Gym Group PLC
LON:GYM
We’re the Gym Group, a totally new way to exercise. Affordable, high-spec nationwide gyms, that make absolutely everybody feel welcome. Whatever your starting point, and wherever you want to go, we can help. So we’re for everyone who’s had enough of the unbelievably-expensive-monthly-contract gym, or the make-me-feel-judged-the-moment-I-walk-through-the-door gym. As you might expect we’re growing fast, and there are new Gyms popping up all over the country. And it’s not just new members we’re winning – we won the ‘Budget Gym of the Year Award’ at the National Fitness Awards 2011.
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The Gym Group jogs higher as 2020 results better than feared
The gym chain reported that 45% of its trading days last year had been lost due to lockdown measures in the UK, although it said it was able to stay cash flow positive during its open periods
The Gym Group cuts monthly cash burn to £5mln with government support
Over the whole of 2020, the company lost 45% of the trading days to coronavirus restrictions
Gym Group may typify quiet Friday in London but US earnings season kicks off
There should also be updates from Ashmore, Meggitt and Spire in London, plus JP Morgan, Citigroup and Wells Fargo in the US
The Gym Group expects £6mln cash burn from closures
The low-cost gym operator has closed its 167 gyms in England last week
The Gym Group sees new joiners rise by a third after gyms reopen following lockdown
Gyms in England were allowed to reopen on July 25, while sites in Wales and Scotland resumed activity on August 10 and 31, respectively
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Gym Group warms up for Wednesday results, Barratt kicks off housebuilder duet with finals
On the macro front, investors will be looking closely across the Atlantic for the US ADP employment numbers ahead of Friday’s non-farm payrolls
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Shortened week will see macro data in focus amid light corporate calendar
Housebuilders Barratt and Berkeley are among those scheduled to report in the week, with the US non-famr payrolls likely to dominate Friday's news
The Gym Group says to reopen gyms in England on July 25
The sites will not operate 24/7 initially and will follow strict safety protocols
The Gym Group restarted at ‘overweight’ as Barclays says risk/reward profile is “sufficiently attractive”
Despite the positive rating, the bank warned that the company’s membership numbers would be the “critical factor” in the investment case
The Gym Group keeps venues open, sheds 2% of members in two weeks
The gym chain has paused its pipeline rollout and is following advice from the authorities on coronavirus
The Gym Group's revenues power ahead as membership rises
The low-cost gym chain posted £153.1mln revenue for 794,000 members at year-end, while average revenue per member per month rose 7.6% to £16.02
Gym Group pumps higher as half-year profits soar
The number of members continues to rise as Gym Group opens more sites, and those people are paying a little bit more than they were last year
Lender Amigo, recruiter Hays and Gym Group all due to report on busy Thursday in London
There has been a dearth of announcements over the summer holidays, but the corporate news machine is getting ready to fire itself up again with the kids heading back to school shortly
Gym Group on track to meet 2019 targets after strong first half
"I am excited about the potential of the company and look forward to delivering another year of strong profitable growth for shareholders," said chief executive Richard Darwin.
Investments and investor services
FTSE 100 closes lower Friday after lacklustre week
The FTSE 250 went the other way and gained over 87 points on Friday
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Gym Group set to flex its muscles again with strong trading update
Analysts at Liberum expect Gym Group to benefit from the rising popularity of low-cost gyms as more consumers tighten the purse strings and make healthier choices
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Barratt Developments and Bovis Homes to provide main building bricks in coming week
Aside from the two housebuilders, corporate updates in the coming week will also be delivered by retailers Ocado, Superdry and Dunelm
Barclays thinks Gym Group fit enough to return to an ‘overweight’ rating based on improving pricing trends
The Barclays analysts said they had been concerned that price cuts in 51 Gym Group gyms were an early signal that over-capacity had been reached
Gym Group’s revenues and profits surge as gymgoers flock to its no-frills fitness clubs
The Gym Group added more than 100,000 new members last year which helped drive a revenue and profit surge