The Morning After: Peloton’s grim post-pandemic reality

The peloton experienced a major pandemic. It’s strange to say, but the company’s premium exercise equipment (which expands from bicycles to treadmills and even weight training technology) was a hot home workout product. This boom has led some people (not normal, sensitive people) to think that we’ll never go back to brick and mortar gyms once the world reopens.

But…we’re back. Now, Peloton’s latest financial numbers and reports they are not great, and additional cuts, nips and tucks are now on the cards. Its shares are down from $156 in 2021 to less than $3 today. Peloton is cutting 15 percent of its workforce, closing more salons and getting rid of its CEO again. He also killed Mr. Big.

The company says it plans to expand overseas (it’s got a foothold in the UK), but that could just be a case of the company resizing to fit the reality of fitness at home in 2024.

– Matt Smith

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