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A couple of years ago, the LA Fitness less than a mile from my house shut down.

At the time, I had an annual contract with the chain, so because there was another location about four miles away, I was not allowed to cancel my membership. That distance, however, was deceptive. During rush hour — the time period I was most often free to work out — it took more than 30 minutes to drive that four miles.

Now, tens of thousands of LA Fitness members will find themselves in the same boat, as the chain has been closing locations nationwide. In some cases, those shuttered gyms are being reopened under the higher-end Club Studio’s name, another brand owned by LA Fitness’ parent company Fitness International.

Once my contract expired, I never actually got around to canceling my membership because the company does not make that process easy. That’s actually the subject of a Federal Trade Commission (FTC) investigation that has been ongoing since August 2025.

It’s also a situation that’s repeating itself for me because the LA Fitness about three miles from our new home closed and will be replaced by a Club Studios.

LA Fitness closes one chain to sometimes open another

LA Fitness has quietly been closing gyms across multiple markets.

“As of October 24, 2026, Store Closure Watch has tracked 19 LA Fitness closure-related events across the U.S., including 16 recorded store closures. Another 3 are conversions: the store changes to another brand at the same site. Where the source names the new brand, 3 are recorded as converting to Club Studio, according to Four Lights Analytics Store Closure Watch.

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Florida was hardest hit with 11 closures, while Connecticut and Illinois both will lose three LA Fitness locations, and New York and Rhode Island will each lose one.

The wave of shutdowns has extended across the country, with Fitness International shutting locations in Centereach, New York; Newington, Connecticut; Holmdel, New Jersey; Southfield, Michigan; and Burnsville, Minnesota.

Alongside the physical closures, members have also faced cutbacks to club programming, including the elimination of cycling classes.

Fitness International has publicly stated that it plans to grow the Club Studios brand from 15 to 50 locations nationwide within the next year.

LA Fitness has been closing some locations.Shutterstock

Club Studios costs a lot more

The LA Fitness closing near me serves a wealthy community adjacent to the town I live in. It’s a city known for hosting polo matches and other equestrian events, and Fitness International likely sees its higher-end brand as a better fit for that market.

Club Studios, which was created in 2023, offers boutique fitness classes and additional wellness amenities.

Both chains come with very different price tags.

LA Fitness and Club Studios membership cost comparison

Club Studio can cost nearly four times as much. At the example prices above, annual membership costs $1,908 versus $488.88 at LA Fitness.

Club Studio combines a conventional gym with boutique classes. Its offerings include reformer Pilates, cycling, and other instructor-led workouts, as well as strength and cardio equipment.

The premium isn’t just about classes. Club Studio locations can also offer amenities such as pools, saunas, steam rooms, and towel service.

The price gap varies by market. The company’s official enrollment pages show location-specific pricing, so compare the same local market before presenting the difference as a general rule.Sources: LA Fitness official membership pricing and Club Studio official pricing

CostLA FitnessClub StudioMonthly membership$34.99 at one listed location$159 at one listed locationAnnual fee$69$0 advertisedInitiation fee$0 advertised$0 advertisedAnnual dues + annual fee$488.88$1,908First-year cost including fees$488.88$1,908Boutique fitness classesSpecialty access depends on membershipUnlimited includedEquipment and traditional gym amenitiesYesYes, including select luxury amenities

Prices vary by location.

LA Fitness makes it hard to quit

LA Fitness does not allow contracted members to quit simply because their local gym has closed. Technically, if there’s another gym within 25 miles, you cannot cancel your contract, according to its membership agreement.

Even when your contract expires, the company makes quitting a challenge, which is the subject of the FTC lawsuit.

“The Federal Trade Commission today sued the operators of LA Fitness and other gyms over allegations they make it exceedingly difficult for consumers to cancel their gym memberships and related services that continued indefinitely unless canceled. The agency is seeking a court order prohibiting the allegedly unfair conduct and money back for consumers harmed by the difficulty in canceling memberships,” the federal agency shared in an August 2025 press release.

Traditionally, LA Fitness has required consumers who want to cancel their membership to either go to the gym itself or send a cancellation notice by mail.

“To start the process, LA Fitness has instructed consumers to log into its website and print a cancellation form. But even logging in can be cumbersome because consumers often do not recall their login credentials, and LA Fitness requires consumers to use the email address used to establish membership, the ‘key tag’ number assigned at start up, and the first five digits of their credit card or bank account number to reset their login credentials,” the FTC shared.

In my case, I don’t have my key tag anymore, nor do I remember which credit card I used to start the account.

“At the hearing, LA Fitness’s counsel made several arguments in response. She contended that the gym does offer a simple online cancellation mechanism on its website and that the online cancellation flow requires fewer clicks than enrollment,” law firm Frankfurt, Kurnit, Klein, and Selz shared on its Advertising Law updates page.

She also argued that members knew what they were getting into.

“Consumers, she added, received disclosures about cancellation procedures in their membership agreements and enrollment flows, and none of that information was in fine print. Given what she characterized as the ‘absolute absence of any real allegations’ of harm in the FTC’s complaint, she argued it ‘really boggles the mind’ how the cancellation process could be deemed not simple as a matter of law,” she shared.

The case remains open.

“The bottom line for subscription and membership businesses is this: adequate disclosure of a cumbersome cancellation process does not make it simple, and a cancellation experience that is structurally harder than sign-up is the kind of asymmetry that draws FTC attention regardless of whether a new rule is on the books,” Frankfurt, Kurnit, Klein, and Selz explained.

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Having recently bought my wife a new iPhone 16+, I can’t help but think about its lofty price tag and what it’s really all about.

Sure, the camera might have gotten sharper (switching from 14+), the battery might have lasted longer, and the screen might have looked better. But if I put the two phones side by side, I don’t really think either felt like a tech revolution or even a major upgrade over something my wife already owned.

That’s the question PayPal co-founder Peter Thiel just raised about Apple (AAPL).

In a recent interview with Walter Isaacson, Thiel said that the company has done little genuinely new since Steve Jobs died in 2011.

Though the business is brilliantly run, Thiel said the breakthroughs have become tougher to spot. The criticism comes at a point when Apple is spending billions on research and development, while its market value has surged into the trillions.

For anyone holding Apple stock, the question isn’t whether the iPhone remains popular. It’s whether Apple’s next big idea can justify the premium Wall Street is willing to pay.

 Peter Thiel questions Apple’s innovation despite its roughly $5 trillion market valuation.Justin Sullivan / Getty Images

Peter Thiel says Apple became better at profits than invention

In a recent interview with Walter Isaacson, as cited by the Times of India, the PayPal co-founder and serial entrepreneur Peter Thiel argued that Apple had done “nothing new after Jobs.” 

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The original iPhone was such a tremendous leap, he said, that management spent the following 15 years refining, marketing, and expanding the business instead of delivering a comparable breakthrough.

He contrasted the leadership styles of Apple’s prolific former CEOs Steve Jobs, who took unpredictable product bets, and Tim Cook, who perfected the machinery that turned those bets into profits.

Thiel called Apple a “pure, well-run value stock,” suggesting commercial success and technological progress aren’t exactly the same thing.

Apple’s accounts back that argument with substance.

During the first nine months of fiscal 2026, the company spent $62.1 billion on share repurchases, versus $34 billion on research and development, as per an SEC Filing. That’s $1.82 in buybacks for every $1 in R&D spending.

But buybacks don’t prove Apple neglected innovation. Research spending actually rose 33% from a year earlier, and the company has introduced the Apple Watch, AirPods, and its own Mac chips since Jobs died.

At the same time, Thiel’s skepticism hurt shareholders.

He declared Apple’s era over in 2017. Yet the stock closed October 23 at $347.73, up nearly 28% in 2026, giving Apple a market capitalization of roughly $5.1 trillion as reported by Reuters.

There’s another irony: its shares trade at around 40 times trailing earnings, hardly a bargain-basement valuation for what Thiel calls a value stock.

Apple has proved it can monetize its ecosystem brilliantly. Whether it can invent another revolutionary product remains to be seen.

Marques Brownlee echoes Thiel as Apple’s AI troubles divide customers

Thiel isn’t alone in questioning if Apple’s financial success comes at the expense of powerful new products.

On an episode of the Flagrant podcast, tech reviewer Marques Brownlee, better known as MKBHD, contrasted Steve Jobs’ relentless product demands with Tim Cook’s mastery of operations.

“Tim Cook might be an example of the ruthless supply chain guy. More like, he’s the business guy. Stock price has never been higher, but now you’re not necessarily as inspired by the new products or visions from the company.”

That criticism has become especially pointed over Apple’s AI endeavors.

In March 2025, longtime Apple commentator John Gruber criticized the company for promoting personalized Siri features before it could demonstrate them working. Bloomberg’s Mark Gurman and Drake Bennett later talked about the internal problems that delayed Apple’s AI ambitions.

For iPhone buyers, the disappointment was more personal than a missed technology milestone.

In a 2025 post on r/iphone, Reddit user u/Jamballam asked: 

“How are you going to sell me a phone that doesn’t have the features advertised until after the warranty runs out?”

That exchange predates Thiel’s remarks, but clearly trust matters when phones promise features that arrive late.

Still, declaring Apple’s innovation finished overlooks the Apple Watch, AirPods, and M1 chips. Its redesigned Siri entered beta in September 2026, and the foldable iPhone Duo reached stores on October 23.

What Peter Thiel’s Apple criticism means for Apple stock investors

For shareholders, Thiel’s criticism runs into a powerful counterargument, which is that Apple’s underlying business is still booming.

In fiscal Q3, sales jumped 16% to $109.4 billion. iPhone sales climbed 22%, while Apple’s services business generated $30.7 billion at an impressive 75.6% gross margin.

That profitable ecosystem helps explain Apple’s $5.1 trillion market valuation, which it achieved this year. 

Nevertheless, Apple stock is trading at a steep valuation and is priced for continued growth. That said, Apple’s November 2 earnings report offers the next test.

New CEO John Ternus needs to demonstrate whether iPhone upgrades, services growth, and improved AI capabilities can justify that premium while building confidence in Apple’s next chapter.

Apple doesn’t need to reinvent the iPhone every year to reward shareholders. But investors paying today’s premium need evidence that its products and future innovations can keep earnings growing.

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When people think of Walmart, low prices and massive stores stocked with inventory tend to come to mind. But it’s important to remember that Walmart’s workforce is what keeps the operation going.

Walmart employs about 2.1 million people in total, with roughly 1.6 million associates located in the U.S.

Now, Walmart is making a change to its workplace benefits. 

The move evokes a key Costco strategy that’s long worked well and helped the warehouse club giant stand out in the competitive retail industry.

Walmart boosts its healthcare benefits package

Walmart has announced major enhancements to its U.S. employee benefits package in October, including free prescription medications for hundreds of drugs, expanded access to specialists for rare conditions, and dedicated paid leave for eligible employees whose newborns require intensive care.

The changes will begin in 2027, except for neonatal intensive care unit (NICU) leave, which begins Nov. 17, 2026.

“We’re adding even more ways for our associates and their families to live better through comprehensive and affordable healthcare and benefits,” said Walmart Chief People Officer Donna Morris in the press release.

The new health benefits are designed to target a wide range of employees. 

Walmart’s Zero Dollar prescription tier, for example, applies to more than 250 generic, brand-name, and specialty medications.

The move comes on top of Walmart’s already affordable health insurance options. The company says full-time and eligible part-time employees can access medical coverage starting at $39.80 per biweekly pay period.

The above changes, however, give employees additional financial protection and support during some of life’s most expensive and stressful healthcare situations.

Walmart has enhanced its U.S. employee benefits package.Shutterstock

Walmart aims to follow Costco’s lead with top-tier employee benefits

Walmart’s boosted healthcare benefits reflect a broader lesson from Costco, which has long been a huge competitor. 

Costco has built a reputation for offering competitive pay and benefits, including affordable health insurance, helping it retain employees for years rather than constantly replacing workers who leave for other opportunities.

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The company’s fiscal 2026 annual report said approximately 94% of its U.S. and Canadian employees who had been with the retailer for at least one year remained with the company. 

Costco also reported an average hourly employee wage of approximately $33 in the United States at the end of the fiscal year.

Those figures reflect a workforce strategy built around competitive compensation, benefits, and opportunities for advancement.

But strong workplace perks don’t just benefit employees. They benefit customers indirectly.

When employees are happy with their benefits, they tend to stay longer. That stability can translate into a more consistent shopping experience.

A more stable workforce can reduce the disruption associated with frequent hiring and training. Experienced employees may also be better equipped to answer questions, resolve problems, and help customers navigate a busy store.

For Costco, those benefits support a business model that depends on high sales volumes, operational efficiency, and members who believe their annual fees are worth paying.

Walmart’s new benefits do not mean it will automatically achieve Costco’s retention levels. The retailers have different workforces and operating structures, and benefits are only one factor influencing employee turnover.

Still, Walmart’s investment underscores the reality that employee welfare and customer satisfaction are not necessarily separate goals. When retailers help workers manage healthcare expenses and family responsibilities, they may also improve their ability to attract and retain experienced employees.

A better-supported workforce can help create a more reliable, efficient, and pleasant shopping experience that gives customers another reason to return.

Maurie Backman owns shares of Walmart and Costco.

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Why we love this deal

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Homfa Double-Row 6-Tier Bookcase, $173 (was $264) at Walmart

Courtesy of Walmart

Shop at Walmart

Why do shoppers love it?

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Related: Amazon’s $90 farmhouse storage cabinet stands 5.5 feet tall and has 6 shelves

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Details to know 

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Colors: All colors are on sale for $173.

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Special features: 1-year product warranty.

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Homfa 71-Inch Tall Bookcases with Storage Drawers, $150 (was $270) at Walmart

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