Americans are heading back to the gym

Tracy Hirigoyen works out at a Life Time class in Minnesota. Joey McLeister/Star Tribune via Getty ImagesFitness chains like Life Time and Planet Fitness reported sharp increases in revenue and users this week at the same time as Peloton’s slump deepens.

It’s a dramatic reversal of their fortunes from the early going of the pandemic, when fitness facilities were shuttered and stay-at-home workout stocks were flourishing.Exercisers are growing increasingly comfortable with hitting the gym despite lingering cases of COVID. Planet Fitness' total revenue soared 67% in its first quarter, compared with a year earlier, and the chain added 37 new locations during the period for a total of 2,291.

Life Time's comparable sales soared 50% in the first quarter, versus a year earlier, as memberships rose 24%. The chain plans to add to its 160 locations with another 12 in 2022 and in 2023.The fitness chains have not been immune to broader market turmoil in 2022. Life Time’s stock is down about 27% this year, while Planet Fitness shares are down about 23%.

But both are outpacing Peloton’s 63% plunge as concerns mount about the stationary bicycling company’s growth prospects.Many Americans are rediscovering the joy of physically working out alongside others.

I never left

Screw that. Doordash and a nap after.

Short $PTON

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