Peloton to sell its bikes on Amazon in bid to reverse slump

Aug 24, 2022, 11:35 AM | Updated: 9:11 pm

NEW YORK (AP) — Peloton’s high-end exercise bikes and other gear will now be able to be bought on Amazon in the U.S., a partnership aimed at boosting the fitness company’s sales that have languished since the easing of pandemic lockdowns.

“We want to meet consumers where they are, and they are shopping on Amazon,” Kevin Cornils, Peloton’s chief commercial officer, said in a statement Wednesday.

The collaboration is Peloton’s first with another retailer. Before, its products were sold only through its website, physical showrooms and other channels.

And it comes after the company earlier this month said it was shedding jobs, shifting its delivery work to third-party vendors and significantly reducing the number of stores it has in North America.

The news of the Amazon deal sent shares of New York-based Peloton Interactive Inc. soaring 20% Wednesday. They are still down about 88% in the last 12 months.

Products available at the launch on Amazon will include Peloton’s original bike — listed at $1,445 — its strength-training “Guide” device, as well as its workout mat, dumbbells and glass water bottle.

The company best known for its interactive stationary bikes saw its sales boom during the pandemic, but it has struggled to maintain high demand as COVID-19 vaccines became more widely available and homebound consumers started to go back to the gym.

Amid those challenges, it sought to cut costs and reduce its operating footprint while ramping up prices on some of its popular products. Last month, it said it would outsource manufacturing for its stationary bikes and treadmills.

The company says bike delivery will be available to most of the U.S. As part of the partnership, customers can get an expert to assemble their bikes, the company said.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

FILE - Maricopa County Recorder Stephen Richer speaks inside the Recorders Office, Nov. 9, 2022, in...
Associated Press

Dominion conspiracies highlighted by Fox lawsuit have election officials concerned for safety

Maricopa County officials are bracing for what could happen when it comes time to replace its contract for voting equipment.
2 days ago
A building is damaged and trees are down after severe storm swept through Little Rock, Ark., Friday...
Associated Press

Tornado causes widespread damage to buildings, vehicles in Little Rock

A tornado raced through Little Rock and surrounding areas Friday, splintering homes, overturning vehicles and tossing trees.
2 days ago
FILE - Former President Donald Trump speaks with reporters while in flight on his plane after a cam...
Associated Press

Worries grow that Trump indictment could undermine public confidence in other investigations

Trump’s attempts to overturn those results amid false claims of widespread fraud are at the heart of two other ongoing investigations.
2 days ago
(Facebook Photo/Superior Court of Arizona in Yavapai County)...
Associated Press

Arizona judge has cases reassigned following DUI arrest

The Arizona Supreme Court has ruled that all cases currently assigned to a Yavapai County Superior Court judge recently arrested on suspicion of extreme DUI will be reassigned to other judges.
6 days ago
Haitian migrant Gerson Solay, 28, carries his daughter, Bianca, as he and his family cross into Can...
Associated Press

US, Canada to end loophole that allows asylum-seekers to move between countries

President Joe Biden and Canadian Prime Minister Justin Trudeau on Friday announced a plan to close a loophole to an immigration agreement.
9 days ago
Expert skateboarder Di'Orr Greenwood, an artist born and raised in the Navajo Nation in Arizona and...
Associated Press

Indigenous skateboard art featured on new stamps unveiled at Phoenix skate park

The Postal Service unveiled the “Art of the Skateboard" stamps at a Phoenix skate park, featuring designs from Indigenous artists.
9 days ago

Sponsored Articles

(Photo by Michael Matthey/picture alliance via Getty Images)...
Cox Communications

Valley Boys & Girls Club uses esports to help kids make healthy choices

KTAR’s Community Spotlight focuses on the Boys & Girls Club of the Valley and the work to incorporate esports into children's lives.
(Pexels Photo)...

Sports gambling can be fun for adults, but it’s a dangerous game for children

While adults may find that sports gambling is a way to enhance the experience with more than just fandom on the line, it can be a dangerous proposition if children get involved in the activity.
...
Fiesta Bowl Foundation

Celebrate 50 years of Vrbo Fiesta Bowl Parade magic!

Since its first production in the early 1970s, the Vrbo Fiesta Bowl Parade presented by Lerner & Rowe has been a staple of Valley traditions, bringing family fun and excitement to downtown Phoenix.
Peloton to sell its bikes on Amazon in bid to reverse slump