Peloton is temporarily halting production of its connected fitness products as consumer demand wanes and the company looks to control costs, …
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Understanding Peloton's Financial Collapse
Investors are raising concerns about just how stable the at-home fitness maker is as its stock price tumbles. Peloton did well at the beginning of the COVID-19 pandemic, but with people returning to gyms and a growing number of competitors emerging, can the company regain its footing? New reports indicate production has halted on new bikes and treadmills due to lack of demand, and Peloton could be looking for more ways to trim costs, including cutting jobs.
Will Peloton Be Able to Emerge from the Pandemic Relatively Intact?
Peloton, manufacturer of luxury fitness equipment, including bikes and treadmills, will start charging customers an additional $250 over retail price …
Peloton began struggling as vaccines became available, gyms reopened, and Big Tech competitors muscled in.
The home fitness company slashed its outlook for the full year amid softened demand for its exercise equipment and ongoing supply chain challenges. Peloton shares tumbled more than 25 percent on Thursday, after the company reported weakening sales growth and a wider-than-expected loss in its fiscal …
Peloton is adding extra costs to its high-tech fitness bike and treadmill as inflation bites. Delivery and setup costs were previously included with the purchase of Peloton hardware, but customers will have to pay separately from the end of the month. The connected-fitness company says on its website …
Peloton is working with management consulting group McKinsey & Co. to review its cost structure and potentially eliminate some jobs, CNBC has learned. …
The big selling started when the stock started surging past $80 a share in the fall of 2020, and gained momentum in 2021 as the stock held above $100. Peloton executives and insiders sold nearly $500 million worth of their stock before the shares tanked, according to filings with the Securities and …
Lululemon asked a Manhattan federal court Friday to toss a lawsuit in an intellectual-property dispute over Peloton's clothing line, arguing Peloton improperly raced to the court to head off infringement claims by Lululemon in Los Angeles.
A Crowded Marketplace of Fitness Tech Companies
