Peloton headwinds stiffen as people break pandemic routines

By MICHELLE CHAPMAN and ANNE D’INNOCENZIO
AP Business Writers

Peloton’s uphill ride to get more sales just got rougher as more people return to gyms and other pre-pandemic exercise routines and embrace cheaper options. The maker of high-end exercise bikes and treadmills, once highflying in the early days of the pandemic, reported on Tuesday mounting losses and slowing sales during the company’s fiscal third quarter. It also offered a bleak sales outlook for the current quarter and announced it signed a commitment for hundreds of millions in loans. That raised questions about the viability of the company’s turnaround. The maker of high-end exercise bikes and treadmills thrived during COVID-19 outbreaks and sales growth for the New York City company doubled in 2020 and surged 120% in its last fiscal year.