Peloton to stop making its own bikes, treadmills
2 years, 5 months ago

Peloton to stop making its own bikes, treadmills

Associated Press  

Peloton will stop making its own interactive stationary bikes and treadmills, outsourcing those duties to a Taiwanese manufacturer as it attempts to revive sales that surged during the pandemic. The New York City company, which recorded its only profitable quarters during the pandemic, is seeking to lower costs after sales slid when gyms began to reopen and cheaper knockoffs entered the market. Peloton’s strategy was to bring manufacturing inhouse, believing that if sales remained robust it would reduce costs and avoid shipping complications. Other manufacturers, seeing Peloton’s success, stepped in to build cheaper interactive bikes and treadmills, leaving Peloton with a growing inventory of unsold equipment.

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Peloton shares hit all-time low after connected fitness company posts another loss, lowers guidance
11 months, 1 week ago

Peloton shares hit all-time low after connected fitness company posts another loss, lowers guidance

Associated Press  

Peloton sank to its lowest price on record Thursday after it reported another loss and gave investors a lukewarm forecast as the connected exercise company continues to struggle following its pandemic hot streak. Peloton enjoyed incredible sales growth during the height of the coronavirus pandemic and its share price multiplied by more than five times in 2020 amid lockdowns. Early …

Peloton the rebrand: High end exercise bike maker says it's now for a health company for all
1 year, 7 months ago

Peloton the rebrand: High end exercise bike maker says it's now for a health company for all

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Peloton is undergoing a significant …

Wheels come off as Peloton loses £81m
2 years, 2 months ago

Wheels come off as Peloton loses £81m

Daily Mail  

The UK arm of luxury exercise bike group Peloton racked up an £81million loss months before the firm went into crisis last November. Peloton's bikes and workouts – with fans including Prime Minister Rishi Sunak and tennis star Venus Williams – exploded in popularity during the pandemic due to Covid restrictions and gym closures. Soundtrack: A series of Peloton classes …

Wild week for Peloton shares as earlier gains erased
2 years, 4 months ago

Wild week for Peloton shares as earlier gains erased

Associated Press  

NEW YORK — Peloton shares are on a wild ride this week, running up 20% Wednesday on a new partnership with Amazon only to erase those gains at the opening bell Thursday after quarterly losses for the connected exercise equipment maker topped $1.2 billion. Peloton Interactive Inc. is a company in transition, attempting to achieve reliable free cash flow growth …

Peloton to sell its bikes on Amazon in bid to reverse slump
2 years, 4 months ago

Peloton to sell its bikes on Amazon in bid to reverse slump

Associated Press  

NEW YORK — Peloton’s high-end exercise bikes and other gear will now be able to be bought on Amazon in the U.S., a partnership aimed at boosting the fitness company’s sales that have languished since the easing of pandemic lockdowns. “We want to meet consumers where they are, and they are shopping on Amazon,” Kevin Cornils, Peloton’s chief commercial officer, …

Peloton Is (Finally) Available On Amazon
2 years, 4 months ago

Peloton Is (Finally) Available On Amazon

Huff Post  

Amazon The original Peloton bike is available for purchase on Amazon. Peloton is famously known for its luxury exercise bike that comes with a ton of fancy bells and whistles, like an impressive touchscreen and lively classes led by instructors that have become celebrities in their own right. But today, CNBC reported the bike and other athletic accessories would be …

Peloton cuts jobs, raises prices in bid for profitability
2 years, 4 months ago

Peloton cuts jobs, raises prices in bid for profitability

Associated Press  

NEW YORK — Peloton is laying off employees and raising prices for some of its equipment as part of its latest bid to make the business profitable and free up cash. In addition to cutting 784 jobs, Peloton will close its North America distribution network and shift its delivery work to third-party providers. Its shares surged more than 400% in …

Peloton headwinds stiffen as people break pandemic routines
2 years, 7 months ago

Peloton headwinds stiffen as people break pandemic routines

Associated Press  

Peloton’s uphill ride to get more sales is getting rougher as more people return to gyms and other pre-pandemic exercise routines and embrace cheaper options. Peloton’s initial success also created competition, with companies peeling away customers by selling cheaper connected stationary bicycles and exercise equipment. New CEO Barry McCarthy said in a letter to shareholders that Peloton ended the quarter …

Not working out: Peloton plunges after cutting outlook
2 years, 8 months ago

Not working out: Peloton plunges after cutting outlook

Al Jazeera  

Peloton thrived in the early days of the pandemic, when locked-down consumers rushed to buy its bikes and treadmills. He was replaced by former Spotify Technology SA and Netflix Inc. Chief Financial Officer Barry McCarthy, who vowed to cut costs and generate more of Peloton’s revenue from subscriptions. In a letter to shareholders, McCarthy said his goal is to get …

Peloton co-founder steps down as CEO after a rough ride
2 years, 11 months ago

Peloton co-founder steps down as CEO after a rough ride

LA Times  

Peloton CEO John Foley celebrates at the Nasdaq MarketSite before the opening bell and his company’s IPO in September 2019. The co-founder of Peloton is stepping down as chief executive after an extended streak of tumult at the exercise and treadmill company, which is also cutting almost 3,000 jobs. Blackwells sent a presentation to Peloton on Monday outlining “the mismanagement …

The damning portrayals of Peloton on our TVs and what that says about us
2 years, 11 months ago

The damning portrayals of Peloton on our TVs and what that says about us

Salon  

And just like that, Peloton has been in the news again. Founded in 2012, the exericise equipment company adopted the word "peloton" from actual bike races, referring to the leading pack of riders who have a complex and symbiotic dynamic in which staying together reduces drag. In one cheeky Instagram post, a seller bid adieu to his bike with the …

Shareholder wants Peloton to consider selling the company
2 years, 11 months ago

Shareholder wants Peloton to consider selling the company

Associated Press  

Activist investor Blackwells Capital is asking Peloton to remove CEO John Foley and consider selling the company just a few days after a media report said the exercise and treadmill company was temporarily halting production of its connected fitness products amid waning consumer demand. In a letter to the board of Peloton Interactive Inc., Blackwells Chief Investment Officer Jason Aintabi …

Report: Peloton pauses production on bikes, treadmills
2 years, 11 months ago

Report: Peloton pauses production on bikes, treadmills

Associated Press  

NEW YORK — Peloton’s shares tumbled on Thursday after a media report said the exercise and treadmill company was temporarily halting production of its connected fitness products amid waning consumer demand. Peloton Interactive Inc. plans to pause production of its main stationary bikes for two months, from February to March, according to CNBC, citing internal documents. In a statement released …

Home fitness giant Peloton releases strength training devise
3 years, 1 month ago

Home fitness giant Peloton releases strength training devise

Live Mint  

Peloton Interactive Inc., known for its stationary bikes, is expanding beyond cardio with the launch of its first strength training device: a $495 TV set-top-box with a camera that guides users through exercises. The Peloton Guide device allows users to access a video library of strength training classes from their TV and uses a two-dimensional, wide-angle camera and artificial intelligence …

How a luxury fitness brand is suffering after gyms open
3 years, 2 months ago

How a luxury fitness brand is suffering after gyms open

Live Mint  

For luxury fitness brand Peloton, going mainstream is costing it dearly. The emergence from lockdowns is also clearly weighing on app use among existing Peloton subscribers as they resume their pre-pandemic office, travel and fitness routines. “Younger and less affluent consumers continue to represent our fastest growing demographic, yet among non-members, there remains a lingering perception that Peloton is a …

Peloton says a child was killed after an 'incident' with the company's Tread+ treadmill
3 years, 9 months ago

Peloton says a child was killed after an 'incident' with the company's Tread+ treadmill

Daily Mail  

A child has been killed in an accident involving Peloton's $4,300 Tread+ treadmill, according to a letter that was sent by the company's CEO to its customers. 'I’m reaching out to you today because I recently learned about a tragic accident involving a child and the Tread+, resulting in, unthinkably, a death,' wrote Peloton CEO John Foley. A child has …

Peloton Is Betting You’ll Never Go Back to the Gym
4 years, 4 months ago

Peloton Is Betting You’ll Never Go Back to the Gym

Wired  

At one point John Mills and his wife, Erica, were members at three different gyms, where John could lift weights and Erica could take indoor cycling classes. Mills quickly figured out how to cast Peloton classes from the bike’s tablet to the playroom’s giant projector screen, using a native Android streaming option. “Back in March or April, folks would either …

Peloton shares tumble as bearish report adds to ad woes
5 years ago

Peloton shares tumble as bearish report adds to ad woes

Associated Press  

NEW YORK — Shares of exercise bike company Peloton were under pressure Tuesday from a scathing research report that comes on the heels of blowback from its widely mocked ad. The shares took a hit last week after Peloton aired an ad in which a husband gifts one of its internet-connected stationary bikes to his wife for the holidays. In …

Peloton plunges after investor says the stock is worth only $5
5 years, 1 month ago

Peloton plunges after investor says the stock is worth only $5

CNN  

New York CNN Business — Peloton may have bigger problems than the public relations fallout from the controversial ad that became a meme. Citron said in the <a href="https://citronresearch.com/wp-content/uploads/2019/12/Citron-Research-Presents-Peloton <a href="> -Investors-Peddling-Themselves-into-Frenzy.pdf” target=”_blank”>report, titled “Investors Peddling Themselves into Frenzy,” that Peloton is reminiscent of GoPro and Fitbit. “Once you get past management’s grandiose talks, you have a company that sells …

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