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The Quiet Ascension of LA Fitness
Wells, John R.; Ellsworth, GabrielCase HBS-717424-EStrategyIn 2016, LA Fitness was the largest chain of non-franchised fitness clubs in North America, operating 676 clubs, serving 4.9 million members, and generating revenues of over $1.9 billion. Founded by Chinyol Yi, Louis Welch, and Paul Norris in 1984, the privately held company revealed little about its future plans or its operations, leading one journalist to write of "the quiet ascension of LA Fitness." However, it continued to expand aggressively...Starting at €8.20
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Clear Channel (A): The Rise, 1972-2003
Wells, John R.; Ellsworth, GabrielCase HBS-717476-EStrategyAt the end of 2003, Clear Channel Communications, Inc., a diversified media group with revenues of $8.9 billion, could claim leadership positions in all three of its main businesses. Clear Channel Broadcasting was the largest radio-station operator in the world, with sales of $3.7 billion and EBITDA of $1.6 billion. Clear Channel Outdoor was the largest outdoor advertiser in the world, with revenues of $2.2 billion generating EBITDA of $581 milli...Starting at €8.20
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Cantel Medical
Wells, John R.; Ellsworth, GabrielCase HBS-717482-EStrategyCantel Medical Corporation provided infection prevention and control products and services for patients, caregivers, and other healthcare providers. In 2016, Cantel generated sales of $665 million and net profits of $60 million, double the levels of five years earlier. Chief Executive Officer J rgen B. Hansen, appointed on August 1, 2016, was aiming to double the size of the business again. Cantel operated in three major vertical market segments...Starting at €8.20
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Bally Total Fitness (B): The Fall, 2005-2016
Wells, John R.; Ellsworth, GabrielCase HBS-717422-EStrategyBy many measures the largest health-club chain in the United States in the early 2000s, in 2014 Bally Total Fitness sold most of its remaining fitness clubs to 24 Hour Fitness and disappeared from the industry top 100 rankings. After Bally was bedeviled by accounting fraud which indicated that it had never made a profit, several groups of investors tried to rescue the company, but their efforts were to no avail. It was an ignominious end.Starting at €5.74
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The Six CEOs of Tyco International Ltd.
Wells, John R.; Ellsworth, GabrielCase HBS-717459-EStrategyIn September 2016, Johnson Controls, Inc., completed the acquisition of Tyco International PLC, a $9.9 billion business with operating profits of $884 million. The purchase consideration was $14.4 billion. Although the deal was billed as a merger, Ireland-based Tyco effectively acquired U.S.-based Johnson Controls in a tax inversion deal that saved $150 million a year in taxes. Operating synergies were estimated at $500 million over three years. ...Starting at €8.20
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Danaher Corporation, 2007-2017
Wells, John R.; Ellsworth, GabrielCase HBS-717464-EStrategyOn July 2, 2016, Danaher Corporation completed the spinoff of Fortive Corporation. The previous day, Danaher's stock price had reached an all-time high. In 2015, Danaher had decided to split off its test and measurement, fuel and fleet management, and automation businesses, leaving the "new Danaher" focused on life sciences, diagnostics, dental, water quality, and product-identification businesses. It was hardly the first industrial conglomerate ...Starting at €8.20
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Reinventing Best Buy, Teaching Note
Wells, John R.; Ellsworth, GabrielTeaching Note HBS-718442-EStrategyTeaching Note for HBS No. 716455.Starting at €0.00
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The Inexorable Rise of Walmart? 1988-2016
Wells, John R.; Ellsworth, GabrielCase HBS-716426-EStrategyIn October 2015, Walmart surprised investors by announcing that it expected flat sales growth for 2015 and growth of only 3% to 4% over the coming three years. Profits would also fall due to significant investments in people and technology. The company's stock price dropped 10% on the news, the largest one-day decline since 1998. In February 2016, Walmart reported that revenues for 2015 had dropped 0.7% to $482.1 billion, the first decline in Wal...Starting at €8.20
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Reinventing Best Buy
Wells, John R.; Ellsworth, GabrielCase HBS-716455-EStrategyOn March 1, 2017, Best Buy Company, Inc., North America's largest retailer of consumer electronics and appliances, announced a third year of comparable-store sales increases and a 20.8% increase in domestic comparable online sales. These results were in marked contrast to four years of declining comparable-store sales from 2010 through 2013. The stock price rose 17% in March, and on April 20, 2017, it surpassed $50 for the first time since Januar...Starting at €8.20
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24 Hour Fitness (B): Ownership Changes, 2005-2016
Wells, John R.; Ellsworth, GabrielCase HBS-717423-EStrategyIn 2016, 24 Hour Fitness was the number-two fitness chain in the United States, generating revenues of $1.4 billion from 441 clubs serving 3.8 million members. Based in San Ramon, California, 24 Hour Fitness operated clubs in 13 states. Having grown rapidly to become the largest club operator by 2004, the company was sold to a private equity group in 2005 for $1.6 billion. The growth continued until the original founder, Mark Mastrov, left in 200...Starting at €5.74