Traders work on the floor of the New York Stock Exchange during morning trading on August 12, 2024 in New York City. Michael M. Santiago | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they … Read more
Traders work on the floor of the New York Stock Exchange during morning trading on August 12, 2024 in New York City. Michael M. Santiago | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they … Read more
Peloton said Thursday it is digging itself out of the red and eked out a slight sales increase for the first time in nine quarters. The beleaguered connected fitness company, which is currently being run by two board members after former CEO Barry McCarthy resigned earlier this year, saw sales grow by 0.2% during its … Read more
A Peloton Bike inside a showroom in New York, US, on Wednesday, Nov. 1, 2023. Peloton Interactive Inc. is scheduled to release earnings figures on November 2. Michael Nagle | Bloomberg | Getty Images Peloton no longer faces an imminent liquidity crunch after a massive debt refinancing, but the company still has a long road … Read more
A pedestrian walks by a Peloton store on May 08, 2024 in Palo Alto, California. Justin Sullivan | Getty Images Peloton shares plunged on Monday after the connected fitness company said it’s launching a “global refinancing,” as it looks to stave off a cash crunch amid falling sales. The company is offering $275 million in … Read more
A Peloton Bike inside a showroom in New York, US, on Wednesday, Nov. 1, 2023. Peloton Interactive Inc. is scheduled to release earnings figures on November 2. Michael Nagle | Bloomberg | Getty Images A number of private equity firms have been considering a buyout of Peloton as the connected fitness company looks to refinance … Read more
Peloton announced Thursday that CEO Barry McCarthy will be stepping down and the company will lay off 15% of its staff because it “simply had no other way to bring its spending in line with its revenue.” McCarthy, a former Spotify and Netflix executive, will become a strategic advisor to Peloton through the end of … Read more
A stationary bicycle inside of a Peloton store is pictured in the Manhattan borough of New York City, U.S., January 25, 2022. Carlo Allegri | Reuters Peloton has quietly removed its unlimited free membership tier on its fitness app less than a year after it debuted because the initiative was failing to convert users into … Read more
A person walks past a sales advertisement at Saks Off 5th department store ahead of the Thanksgiving holiday sales in Washington, D.C., on Nov. 21, 2023. Saul Loeb | AFP | Getty Images In the months before Bed Bath & Beyond declared bankruptcy last April, the former home goods titan was trapped in a crushing … Read more
Peloton managed to turn a gross profit off of its pricey connected fitness products for a second quarter in a row, but the company said Thursday it expects more challenges ahead after it failed to reach a number of goals CEO Barry McCarthy outlined a year ago. The retailer delivered mixed results for its holiday … Read more
