Peloton signs up for reconditioning. American company of home fitness Has launched a campaign to sell refurbished bicycles in the United States and Canada, according to a statement released by the company. Articles can be purchased through both your ecommerce and Showroom,
The program, called Peloton Certified Refurbished, will offer models between $1,145 and $1,995, which means up to $500 off Compared to a new bicycle, the same as first-hand products, with a twelve month guarantee.
This isn’t Peloton’s first step in making its product more accessible. at the beginning of the year, The company expanded its rental program in the United States Providing monthly rental option to the consumers.
The company got a big boost during the initial months of the pandemic, reaching a peak market valuation of around $50 billion by early 2021. However, with the lifting of sanctions, its demand waned and its capitalization fell. ,
Peloton misses fiscal first quarter of 2023 with loss of $408.5 million
American company of home fitness The first fiscal quarter of 2023, which ends on September 30, closed with some loss of $408.5 million, Which is 9% higher than the same period last year. The result came after its revenue dropped 23% to $616.5 million.
For the second fiscal quarter of 2023, The company is expected to generate revenue between $700 million and $725 million37% less than the same period in 2022. Furthermore, it expects to reach three million subscriptions, which is 8% higher than the same period last year.
To reach the goals, Peloton has cut its workforce by 12%, up to 500 employees. Worldwide, the company has 3,800 employees, less than half of those registered in 2021.
Founded in New York in 2012 by John Foley, the company has specialized in the manufacture and sale of related exercise bikes for the home, which feature a screen where users can view video of guided classes in real time or on demand.