New York, NY 10018 The closures are a result of shifts caused by. All rights reserved. Peloton and SoulCycle say they're responding to customer data. There will soon be fewer SoulCycle studios in California and other parts of the United States. . The two companies often go head-to-head, but now they're both downsizing in a major way. SoulCycle, a beloved fitness studio known for its cult-like following, announced Monday it would be closing its studios across the globe until the end of April as the world attempts to stop the. READ THIS NEXT: This Popular Retail Chain Is Closing Stores, Starting Tomorrow. The chain, which charges as low as $10 for a monthly membership, reported in its earnings last week that it grew its membership base to 16.5 million. Throughout the past semester, I frequented Chris Pepe's 7 am classes at SoulCycle Georgetown close to class and even closer to a . 1042 Wisconsin Avenue NW 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, CEO Chris Rondeau said in an earnings call, adding that hes noticed that people are trading down from high-priced gyms. West Palm Beach, FL 33401 Fitness chains and independent gyms at large have been hit hard, with roughly one-third of fitness locations closing during the pandemic. And now the company is adding 20 new locations for those who are ready to . Southern California region currently selected. 2023 WTOP. Read more: WorkStep CEO: Frontline workers remain in high demand. 250 S Service Road 972.737.7685, River Oaks 25 SW 9th Street A New York SoulCycle studio is pictured in September of 2020. Overall, the company will shutter around 20 of its 83 studios, including six in the New York City area and others in Washington, DC, Massachusetts, Illinois, Florida and Georgia. London, LND W1F 7HH Webster said the closures will lead to layoffs, according to leaked audio shared with Insider. The privately held company, owned by Equinox, did open some SoulCycle studios outdoors and evencreated an $2,500 at-home bikein an effort to weather the pandemic. Boston, MA 02210 In the coming days, SoulCycle will shutter around 20 of its 83 studios: six in the New York City area, five in California and others in Washington, DC, Massachusetts, Illinois, Florida and Georgia. In the coming days, SoulCycle will shutter around 20 of its 83 studios: six in the New York City area, five in California and others in Washington, DC, Massachusetts, Illinois, Florida and Georgia. Both Peloton and SoulCycle have just revealed that they will be closing locations soon. Peloton, which peaked during the pandemic, saw its value tank post-lockdown and on Friday announced that it will slash 800 jobs and hike the price of its stationary bikes. Peloton will also close an unknown number of stores across North America. scientific studies and medical journals. SoulCycle announced this week it's permanently closing its Yaletown spin studio in Vancouver. 14TH Flywheel, a similar indoor spin concept, permanently closed in September 2020.
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