Jen Van Santvoord rides her Peloton workout bicycle at her house on April 07, 2020 in San Anselmo, California.
Ezra Shaw | Getty Photographs
Peloton buyers were in for a rude awakening on Thursday.
Numerous expected to see the related fitness products maker report slowing gross sales. Gyms have reopened, and outside operates and holidays beckoned in the course of the summer months. What buyers hadn’t anticipated was a 20% selling price minimize in the firm’s leading-selling product and a ramp up in marketing and advertising paying.
Advancement is slowing, and it can be less worthwhile growth.
About $2.9 billion