What's Going On With Peloton Interactive Today
Portfolio Pulse from Lekha Gupta
Peloton Interactive announced a rear safety guard for its recalled Tread+ treadmill, which will be offered for free to owners later this year. The company recalled its Tread and Tread+ treadmills in May 2021 after multiple injuries and one child's death. Peloton reported a Q3 FY23 sales decline of 22% Y/Y to $748.90 million.
May 19, 2023 | 1:13 pm
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NEUTRAL IMPACT
Peloton announces rear safety guard for recalled Tread+ treadmill, to be offered for free to owners. Q3 FY23 sales decline 22% Y/Y.
The announcement of a rear safety guard for the recalled Tread+ treadmill may help rebuild consumer trust in Peloton's products. However, the company's Q3 FY23 sales decline of 22% Y/Y indicates that it is still facing challenges. The impact on the stock price is likely to be neutral in the short term as the market weighs the positive and negative news.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100