Life Time Fitness Falls Most Since IPO on Forecast Miss
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Life Time Fitness Inc. fell the most since its market debut in 2004 after the sports-center operator forecast annual sales and profit that trailed analysts’ estimates amid expenses for opening new locations.
The shares tumbled 22 percent to $39.36 at the close in New York for the biggest one-day drop since June 2004. The stock gained 5.3 percent last year, while the Standard & Poor’s Midcap Consumer Discretionary Sector Index advanced 22 percent.