March 2010 April 2010 May 2010 June 2010 July 2010
August 2010
September 2010 October 2010
November 2010
December 2010
January 2011
February 2011 March 2011 April 2011 May 2011 June 2011 July 2011 August 2011 September 2011 October 2011 November 2011 December 2011 January 2012 February 2012 March 2012 April 2012 May 2012 June 2012 July 2012 August 2012 September 2012 October 2012 November 2012 December 2012 January 2013 February 2013 March 2013 April 2013 May 2013 June 2013 July 2013 August 2013 September 2013 October 2013 November 2013 December 2013 January 2014 February 2014 March 2014 April 2014 May 2014 June 2014 July 2014 August 2014 September 2014 October 2014 November 2014 December 2014 January 2015 February 2015 March 2015 April 2015 May 2015 June 2015 July 2015 August 2015 September 2015 October 2015 November 2015 December 2015 January 2016 February 2016 March 2016 April 2016 May 2016 June 2016 July 2016 August 2016 September 2016 October 2016 November 2016 December 2016 January 2017 February 2017 March 2017 April 2017 May 2017 June 2017 July 2017 August 2017 September 2017 October 2017 November 2017 December 2017 January 2018 February 2018 March 2018 April 2018 May 2018 June 2018 July 2018 August 2018 September 2018 October 2018 November 2018 December 2018 January 2019 February 2019 March 2019 April 2019 May 2019 June 2019 July 2019 August 2019 September 2019 October 2019 November 2019 December 2019 January 2020 February 2020 March 2020 April 2020 May 2020 June 2020 July 2020 August 2020 September 2020 October 2020 November 2020 December 2020 January 2021 February 2021 March 2021 April 2021 May 2021 June 2021 July 2021 August 2021 September 2021 October 2021 November 2021 December 2021 January 2022 February 2022 March 2022 April 2022 May 2022 June 2022 July 2022 August 2022 September 2022 October 2022 November 2022 December 2022 January 2023 February 2023 March 2023 April 2023 May 2023 June 2023 July 2023 August 2023 September 2023 October 2023 November 2023 December 2023 January 2024 February 2024 March 2024
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
29
30
31
News Every Day |

Peloton, once the toast of Wall Street, has seen its stock plummet this year. Here's everything you need to know about its rollercoaster 12 months.

Peloton bike class
You can log in to your Peloton account from the web and the Peloton mobile apps.
  • Peloton's stock price has plummeted in the past 12 months. 
  • The high-tech fitness company was once the golden child of the connected fitness world.
  • But slowing demand and product recalls have put pressure on its business.  
Just under two years ago, Peloton was the toast of Wall Street. With consumers trapped at home and unable to visit gyms, demand for its high-tech fitness equipment soared.
Peloton bike
Peloton slashed the price of its bike but the approach bore little fruit.

But this is when its troubles began.

The company wasn't ready to meet such high demand. Customers started to complain about months-long delivery times, last-minute cancellations, and poor customer service. These complaints went on for months, rolling into 2021.

In the meantime, Peloton purchased fitness manufacturer Precor for $420 million to ramp up production levels and cope with demand. But in the background, the market was becoming crowded with other at-home fitness options and competition was heating up. 

In the spring of 2021, Peloton came under scrutiny of US regulators who warned customers not to use its Tread+ running machine following reports that a child had died and several others were injured while using it.
pelo tread

The regulators urged Peloton to recall the product but it initially refused, describing the US Consumer Product Safety Commission's warning as "inaccurate and misleading."

Class-action lawsuits against the company trickled in from consumers and investors who said it had knowingly sold a defective product.
Peloton Tread+.
Peloton Tread+.

A month later, Peloton recalled the item and CEO John Foley apologized for not engaging more productively with the CPSC.

The company told customers to stop using the treadmill immediately and apply for a refund. It also stopped the sale and distribution of the Tread+.
AP20004242586871
Regulators want Peloton to conduct a safety recall following reports of injuries on its new Tread+ treadmill.

Foley later said that the US Department of Justice and the Department of Homeland Security had subpoenaed it for documents and other information related to its reporting of injuries associated with its products. 

In June, Peloton faced fresh criticism from customers after it disabled the free "Just Run" feature on its Tread+, forcing some users to pay a $39 fee to use it.
A screenshot of an email from Peloton. A part circled in red says, "Unfortunately at this time, 'Just Run' is no longer accessible without a Peloton Membership."

Peloton later brought this feature back.

As the year went on, competition in the market grew and consumers became more comfortable returning to gyms.
An athlete performing a barbell lunge exercise in a gym

As a result, Peloton's revenue growth slowed. To entice new customers, it slashed the cost of its entry-level bike by $400 in August. 

But revenue growth continued to slow into the next quarter.
Peloton bike class
You can log in to your Peloton account from the web and the Peloton mobile apps.

In November, Peloton reported that sales of its connected fitness products fell by 17% in its first quarter fiscal 2022 results. The company also saw its smallest quarterly gain in connected fitness subscriber growth since the company went public in September 2019.

Peloton's stock price tumbled, wiping out $8 billion in market value in one day, and stripping Foley of his billionaire status.
Headshot of John Foley on a gray background
John Foley.

Source: Insider

Reports then surfaced that the company had frozen hiring across all departments in order to cut costs.
Peloton employees

Source: Insider

The drama didn't end there. In December, Peloton made its debut in the "Sex and the City" reboot, only not in the way it might have hoped.
mr big on peloton in and just like that
Chris Noth riding a peloton in "And Just Like That..."

39 minutes into the first episode, Mr Big, (Chris Noth), Carrie's on-again, off-again love interest-turned-husband, keeled over from a heart attack after unclipping from his Peloton bike, angering Peloton's die-hard fans.

Peloton later confirmed in a comment to Insider that it wasn't aware of the full scope of the storyline ahead of time.

The company was quick to respond and pacify upset users, releasing a new ad that featured Noth and made light of the episode.
Chris Noth
Chris Noth attends the NY Premiere of 'And Just Like That' on December 08, 2021.

Peloton was praised for its cheeky response. But days later, the ad was hastily withdrawn after Noth faced allegations of sexual assault. Two women told The Hollywood Reporter that Noth had assaulted them in 2004 and in 2015, respectively. He denied these allegations.

The scandal didn't end there. Just before Christmas, employees bashed Foley for hosting a lavish party at the Plaza Hotel in New York City, which was splashed around social media.
Peloton Co-Founder/CEO John Foley
Peloton Co-Founder/CEO John Foley

Only select employees were invited to the party, and workers described it as "extremely opulent and tone deaf," given the company's rocky performance in recent months.

Peloton's entrance into 2022 hasn't been any smoother.
Man walks by Peloton store will bikes and woman in workout gear standing inside

In leaked audio reported by Insider this month, execs discussed plans to lay off 41% of its sales and marketing teams and cut parts of its e-commerce and retail teams.

CNBC reported that the company hired management consultancy firm McKinsey to handle job cuts and restructurings.

This week, Peloton's stock price took another battering after CNBC reported that leaked internal documents revealed that the company was pausing production of new bikes and treadmills because of weak demand.
peloton bike

Foley denied these reports and said the company was "right-sizing" production rather than halting it. 

At the same time, reports emerged that the company was delaying the opening of its new $400 million Ohio factory by a year because of slowing demand. Peloton did not respond to Insider's request for comment on this.

Read the original article on Business Insider
Арцах

Топливному компромиссу между Украиной и Азербайджаном пришел конец?

Top 10 Love Affair Movies of the 2000s and 2010s

Top 10 Emmanuelle Seigner Movies

Top 5 Websites to Watch FREE Movies - TV Shows (No Sign up!)

I was diagnosed with cancer aged 39… you are never too rich, too famous or too young, says Dr Philippa Kaye

Ria.city






Read also

Justin Bieber, Theo Von, and Jay-Z have all been spotted with Tesla's Cybertruck. Here's a list of the celebs flexing the new status vehicle.

Mayonnaise Roasted Turkey Recipe

High homeowners insurance rates scaring away Florida homebuyers, other states face the same issue

News, articles, comments, with a minute-by-minute update, now on Today24.pro

News Every Day

The 10 Intense New Action Movies on Netflix That Left Me on the Edge of My Seat!

Today24.pro — latest news 24/7. You can add your news instantly now — here


News Every Day

I was diagnosed with cancer aged 39… you are never too rich, too famous or too young, says Dr Philippa Kaye



Sports today


Новости тенниса
ATP

Хачанов: хочу вернуться в топ-10 ATP



Спорт в России и мире
Москва

Отставка Кудашова и уход Гусева и Уила: кого «Динамо» рискует потерять после вылета из Кубка Гагарина



All sports news today





Sports in Russia today

Москва

Актера Свиридова госпитализировали из-за инфицирования после операции в Москве


Новости России

Game News

Для Wuthering Waves проходит предрегистрация в App Store и Google Play


Russian.city


Москва

Демонтаж арки на старом Бельском мосту, эвакуации и ужесточение законов в Башкирии


Губернаторы России
Бизнес

Бизнес в огне. Почему так часто горят склады


Лучшие в своей области: KEYBIZ CPAs & Advisors - бухгалтерская компания №1 в Турции

По зову долга и сердца: интервью со спасателями, которые работали во время теракта в «Крокусе»

Заказать недорогой ремонт шкафов купе в Москве и Московской области

Сергей Собянин рассказал, как Москва помогает производителям оборудования


Shaman направит деньги от концерта в Ессентуках пострадавшим в "Крокусе"

“Настя — не из дешёвых женщин”, – У Волочковой появился молодой ухажёр с серьёзными намерениями

Тимати посетил акцию в память о жертвах теракта в «Крокусе»

На Моргенштерна завели три новых дела


Теннисист Медведев вышел в полуфинал турнира в Майами, обыграв Харри

Рыбакина, наряду со Свёнтек, имеет 70% побед на WTA-1000 против соперниц из топ-10

Чесноков оценил шансы Александровой в борьбе за выход в финал турнира WTA в Майами

Битые корты: Медведев и Александрова вышли в четвертьфинал Miami Open



Топливному компромиссу между Украиной и Азербайджаном пришел конец?

Заказать недорогой ремонт кухонной мебели в районе в Москве и Московской области

Рынок вторичной недвижимости Крыма: цены растут, а спрос?

Эксперты КА «Главный Советник» приняли участие в форуме «Тренды и антитренды корпоративного видео сегодня»


Самые популярные туристические маршруты России: на автомобиле

АИРР на Стартап-туре 2024

ДИРЕКТОР БРХК ВЛАДИМИР КОЖЕВНИКОВ ПРОВЁЛ "КЛАССНУЮ ВСТРЕЧУ" ДВИЖЕНИЯ ПЕРВЫХ

Чемпионат по зимнему плаванию пройдет в Пскове


Федерация бокса России на ВДНХ

Экс-игрок сборной России Мостовой заявил, что "Спартак" поборется за медали РПЛ

Дептранс: Приостановка Samsung Pay не повлияет на оплату проезда в Московском транспорте

Что строили на месте терактов и крупных трагедий в России и мире



Путин в России и мире






Персональные новости Russian.city
Тимати

Тимати посетил акцию в память о жертвах теракта в «Крокусе»



News Every Day

Top 10 Love Affair Movies of the 2000s and 2010s




Friends of Today24

Музыкальные новости

Персональные новости