Peloton recalls treadmills after child dies, 70 reports of injuries
Peloton is recalling about 125,000 of its treadmills, less than a month after denying they were dangerous and saying it would not pull them from the market, even though they were linked to the death of a child and injuries of 29 others.
Child dies in accident involving Peloton treadmill, CEO announces
LAS VEGAS, NV - JANUARY 11: A Peloton Tread treadmill is displayed during CES 2018 at the Las Vegas Convention Center on January 11, 2018 in Las Vegas, Nevada. (Photo by Ethan Miller/Getty Images)A child has died in an accident involving a Peloton Tread+ machine, according to the companyโs CEO John Foley. The message was also sent to owners of the Tread+ equipment, according to an article by ABC News. But in order to help ensure that you and your family members stay safe with Peloton products in your home, we need your help. To help prevent accidents with the fitness equipment, Foley says customers should review the following:Keep children and pets away from Peloton exercise equipment at all times.
Asian stocks gain after Trump criticizes economic aid bill
Asian stock markets rose Wednesday after President Donald Trump suggested he may veto a $900 billion economic aid package. (AP Photo/Lee Jin-man)Asian stock markets rose Wednesday after President Donald Trump suggested he may veto a $900 billion economic aid package. Overnight, Wall Streetโs benchmark S&P 500 index lost 0.2% after Trump criticized the aid plan approved by Congress. The Shanghai Composite Index rose 0.8% to 3,382.08 and the Nikkei 225 in Tokyo added 0.1% to 26,470.94. Tech companies rose.
Peloton showroom coming to San Antonio
SAN ANTONIO โ If youโve considered jumping on the Peloton trend, but are holding back because youโd prefer to try it before you buy it, hereโs some good news: San Antonio is getting a Peloton showroom. Brookfield Properties confirmed to KSAT that a showroom is set to open at the Shops at La Cantera, but would not say when. The San Antonio Business Journal previously reported that the Peloton Showroom took the place of the pop-up Tesla showroom and reported that construction of the 3,187-square-foot space was estimated to cost $800,000. Peloton is still not on the list of stores that the outdoor mall says are coming soon. The COVID-19 pandemic has been good for Peloton sales.
NY Sports Club latest chain to seek bankruptcy protection
The company that runs New York Sports Club and Lucille Roberts gyms filed for bankruptcy protection with COVID-19, still prevalent in man parts of the U.S., gutting membership rolls at fitness companies nationwide. Goldโs Gym sought bankruptcy protection in May and 24 Hour Fitness Worldwide filed for bankruptcy in June. The company lost $136 million during the first quarter this year, only a fraction of which included state- and city-mandated shutdowns of retail shops, gyms, salons, restaurants and bars. Home fitness company Peloton reported a 172% surge in revenue during its most recent quarter and it doubled its subscribers. Bike shops in New York, as well as most outdoor fitness gear sellers, have been largely cleared out.