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“Peloton shares plunge, CEO admits company ‘thinly capitalized’” Peloton will need to pedal harder to get out of this hole. The exercise-bike company’s shares plunged as much as 20% on Tuesday after it slashed its sales guidance, reported a deeper loss than Wall Street had expected and said it’s low on cash. Chief executive Barry…
“Peloton cuts bike prices, hikes fees for subscriptions” Peloton Interactive said Thursday it is raising the monthly fee for its on-demand fitness content in the United States and Canada, while cutting the prices of its Bike, Bike+ and Tread machines in all markets as it looks to attract more customers. The move comes a day…
“NordicTrack CEO Scott Watterson forced out in battle with Peloton” The maker of NordicTrack exercise bikes and treadmills got a financial lifeline this month — but only after the struggling Peloton rival’s founder agreed to step down as chief executive, The Post has learned. Investors insisted that 66-year-old Scott Watterson — a hard-charging billionaire entrepreneur…
“Struggling Peloton to explore new price models” Peloton said on Thursday it would explore various pricing models in select US markets, as the exercise bike company looks to attract more customers and return to profitability. Peloton, which saw its shares tumble more than 80% in the past year due to waning demand for the company’s stay-at-home exercise…
“#Laid-off Peloton employees crash new CEO’s first company meeting: report” Bitter ex-Peloton employees crashed new CEO Barry McCarthy’s first companywide meeting on Wednesday, with one accusing the company of being “awfully tone deaf,” according to a report. After laid-off staffers filled the meeting’s chat box with messages like “I’m selling all my Peloton apparel to…
“#Peloton cancels planned $400M Ohio factory in cost-cutting bid” Peloton has pulled the plug on a planned $400 million factory in Ohio as it scrambles to cut costs due to sagging demand for its bikes and treadmills, the company confirmed as part of its turnaround plan this week. The embattled fitness brand said it is…
“#Peloton’s archrival – maker of NordicTrack bikes – faces crippling lawsuit” The maker of NordicTrack exercise bikes has been slapped with a $300 million lawsuit that threatens to force the company toward bankruptcy, The Post has learned. iFIT Health & Fitness – which scrapped plans to go public in October after archrival Peloton revealed pandemic-driven…
“#Peloton delays opening of $400 million US factory as demand tanks: source” Peloton is delaying the opening of a $400 million US factory by a year because the company is stuck with a glut of exercise machines and too little demand, sources tell The Post. The Troy Township, Ohio, factory will now open in 2024…
“#Deal to acquire Chris Noth’s tequila brand gets nixed on sex assault allegations” The company that was set to buy the tequila company owned by Sex and the City star Chris Noth has called off the deal after two women accused the Mr. Big actor of sexual assault, The Post has learned. Noth’s tequila brand…
“#Peloton CEO John Foley drops $55M on Hamptons compound as company faces increased scrutiny” Peloton chief executive John Foley has quietly snatched up a $55 million estate in East Hampton — even as employees of the exercise-bike company fret about their futures as its stock price tanks, The Post has learned. Foley’s new 4-acre spread…