![]() ![]() The stock is down about 75% since the start of the year.Relive captures your ride data from Strava or Garmin Connect and transforms it into a stunning moving map. Peloton shares added 34 cents to $8.83 Thursday. Its annual loss for the fiscal year totaled $2.8 billion. Revenue dropped from $936.9 million to $678.7 million. In its fourth quarter, Peloton lost $1.24 billion, stung by restructuring and other charges. The company is working to return to profitability. A push is also being made to sell its equipment to consumers through retailers including Amazon and Dick’s Sporting Goods. Thursday’s statement followed Peloton’s August announcement that it would cut 784 jobs, close its North America distribution network and shift delivery work to third-party providers. The New York-based company’s share price multiplied by more than five times in 2020 amid lockdowns that made its bikes and treadmills popular among customers who pay a monthly fee to participate in its interactive workouts.īut sales began to slow last year as the distribution of vaccines drew many people out of their homes and back into gyms. ![]() Peloton experienced incredible sales growth during the height of the coronavirus pandemic. “The changes we have made, combined with the performance of the business, are moving us closer to our fiscal year-end goal of break-even cash flow, with a renewed focus on growth,” said CEO and President Barry McCarthy. That plan included a new chief executive and a smaller store base. said it’s completed the vast majority of a restructuring plan begun in February. The maker of high-end exercise equipment cut approximately 500 jobs, or about 12% of its workforce, Peloton said Thursday. ![]() Peloton is cutting hundreds of jobs in a corporate reorganization of its stalled business as the pandemic-related surge ebbs. ![]()
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