Peloton on Tuesday reported a wider-than-expected quarterly loss and a steep decline in sales, as inventory piled up in warehouses and ate away at the company’s cash.
The connected fitness equipment maker also offered up a weak sales outlook for the fourth quarter, citing softer demand.
The company anticipates that planned subscription price hikes may lead some users to cancel their monthly memberships.
Peloton on Tuesday reported a wider-than-expected quarterly loss and a steep decline in sales, as inventory piled up in warehouses and ate away at the company’s cash.
The connected fitness equipment maker also offered up a weak sales outlook for the fiscal fourth quarter, citing softer demand. The company anticipates planned subscription price hikes may lead some users to cancel their monthly memberships.
Source: CNBC
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