TSI Reports First Quarter Decrease in Revenue, Will Consider Closing Clubs

TSI Reports First Quarter Decrease in Revenue, Will Consider Closing Clubs

TSI CEO Bob Giardina said low-cost competition, the growth of studios, weather-related expenses and the cost associated with the opening of new clubs led to the decrease in company revenue.

Town Sports International (TSI), New York, reported a decrease in first quarter 2014 revenue and may close underperforming clubs later this year as the company released its financials today.

TSI had revenue of $115.9 million in first quarter 2014, a 2.7 percent drop from the $119.1 million it generated

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