Peloton Interactive
stock was declining Thursday after the at-home fitness company said it was recalling 2.2 million exercise bikes because of fall and injury hazards, according to the company and the Consumer Product Safety Commission.
Peloton (ticker: PTON) shares fell 5.6% to $7.11. The stock has declined 10% this year.
The company said the recall—which involves the seat post breaking unexpectedly—impacts the Peloton original Bike sold from January 2018 to May 2023 in the United States. Peloton Bike+ Members or Peloton original Bike owners in Germany, the U.K., and Australia aren’t affected.
“Our commitment to member safety is unwavering. For Peloton, it was important to proactively engage the CPSC to address this issue and to work swiftly and cooperatively to identify a remedy,” the company said in a statement.
“Peloton is offering a free, updated seat post to all U.S. Peloton original Bike owners, which can be installed at home, without the need for a service call. One seat post replacement will be offered per Bike,” Peloton added.
The recall news follows last week’s disappointing third-quarter earnings report from Peloton, which included a wider-than-expected loss and a forecast for a decline in connected fitness subscribers.
In May 2021, the company recalled the Peloton Tread+ and Tread treadmills following a child death and more than 70 incidents.
Write to Emily Dattilo at [email protected]
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