230823-peloton-bike-mjf-1041-0721e0-rLuc4n.jpg
STOCK MARKETS

Peloton shares fall after it posts wider-than-expected loss, falling sales due to Bike recall, seasonality

Posted on Author Comments Off on Peloton shares fall after it posts wider-than-expected loss, falling sales due to Bike recall, seasonality

Peloton’s shares fell by about 7.4% after it posted a wider-than-expected adjusted loss of $0.26 per share in its fiscal fourth quarter and reported lower-than-expected sales of $757 million. The drop in sales was largely attributed to the recall of its Tread+ product in April, as well as lower-than-expected sales due to seasonality and supply chain issues. The company also reported a net loss of $49.5 million for the period. Peloton’s executives remain confident in the company’s long-term outlook, emphasizing its growth prospects in the digital segment and growth in international revenue.

admin

Related Articles

230317-target-shopper-al-0910-d0acf7-ZNYeGx.jpg
STOCK MARKETS

Target says it will close nine stores in major cities, citing violence and theft

Posted on Author

as two of the reasons. The retailer says it will provide support and assistance for employees affected by the closures, including resources to help them find new employment opportunities. In addition, Target says it is working with law enforcement to increase security in the affected areas.

191219-wework-cs-110p-1f070d-XU8dv6-800x533.jpg
STOCK MARKETS

WeWork, the office-sharing company once valued at $47B, files for bankruptcy protection

Posted on Author

WeWork, the office-sharing company once valued at $47 billion, filed for bankruptcy protection on Thursday. The company, which rents desks and office space to small businesses, startups, and freelancers, lists $7 billion in liabilities, including outstanding debt of $4.6 billion. The filing came after SoftBank, WeWork’s largest investor, pulled its offer of a $3 billion […]
STOCK MARKETS

Posted on Author

‘require|isNotEmpty’, ‘province’ => ‘require|isNotEmpty’, ‘city’ => ‘require|isNotEmpty’, ‘country’ => ‘require|isNotEmpty’, ‘detail’ => ‘require|isNotEmpty’, ‘mobile’ => ‘require|isMobile’ ]; }