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Peloton’s Earnings Report Is the Latest Blow in Rocky Year

  • Fitness company’s first-quarter forecast misses expectations
  • CEO remains optimistic; says business is in ‘fantastic shape’
A Peloton Interactive Showroom Ahead Of Earnings Figures
Photographer: Adam Glanzman/Bloomberg
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Peloton Interactive Inc. tumbled Friday after delivering a disappointing sales outlook, the latest setback in a year marked by product recalls and waning consumer interest.

The at-home fitness company disclosed other unwelcome news in its earnings report late Thursday, including that it’s cutting the price of its most popular bike, a move aimed at broadening its customer base but one that will also hurt its bottom line this year. Peloton also said it found a problem with the way it accounts for inventory.