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Andrea Felsted

Peloton’s New Strategy Is Spinning All Over the Place

The fitness company is reasserting that it’s a luxury brand — as it lays off staff and closes stores.

Resistance is high.

Resistance is high.

Photographer: Joe Raedle/Getty Images North America

So, neither Nike Inc. nor Inc. stepped in to buy Peloton Interactive Inc. after all.

The pandemic winner-turned-loser must face an independent future and alter its strategy accordingly. Yet the blueprint set out on Friday by still-new Chief Executive Officer Barry McCarthy is spinning in confusing directions.