"Peloton's Stock Plummets Amid Sales Decline Warning"
TL;DR
Peloton's shares plummeted nearly 25% after the company warned of a sales decline and cut back its revenue forecast, citing softer-than-expected sales of its high-end equipment like stationary bikes and treadmills. The at-home exercise boom during the pandemic has waned as users return to gyms, leading to a 6% drop in sales to $743.6m in the last quarter. The company expects revenue to fall by about 5% in the current quarter and has downgraded its full-year revenue guidance. Despite challenges, Peloton's CEO remains optimistic about improving performance and notes strong sales growth over the holiday period, as well as encouraging demand for its Tread+ treadmill.
Topics:businessbusiness-fitness#at-home-exercise#business-fitness#fitness#peloton#revenue-forecast#sales-decline
- Peloton shares tumble as it warns of sales decline The Guardian
- Peloton posts mixed holiday results, dismal quarterly guidance CNBC
- Peloton Stock Drops to Record Low After Outlook Cut The Wall Street Journal
- Peloton Predicts Another Sales Drop as College Push Fizzles Yahoo Finance
- Peloton Stock Hovers at Record Low as It Warns Will Miss Full-Year Cash Flow Goal Barron's
Want the full story? Read the original reporting
Read on The Guardian