Peloton shares sink as at-home exercise falls out of favor
(Reuters) -Peloton Interactive Inc on Thursday slashed its full-year sales forecast by up to $1 billion, saying demand for its exercise bikes and treadmills was slowing faster than expected as people return to pre-pandemic habits. “It is clear that we underestimated the reopening impact on our company and the overall industry,” Chief Financial Officer Jill Woodworth said on a post-earnings call. Peloton now expects https://investor.onepeloton.com/static-files/4e16bcc7-dd3b-40ec-acb6-840e691b40ee annual sales between $4.4 billion and $4.8 billion, compared with $5.4 billion previously.
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