Andy Rendich News Today

Jon, what are you expecting amazon to announce tomorrow . Is there going to be hardware . Is there going to be a streaming component . There has been so much talk about hardware. In the lead up to that event, they have had a couple of key content announcements. You highlighted the word about their original series and which ones will continue on. One example being a show that stars john goodman. Today, they make this announcement tied to licensing content. People who use it will be able to watch ...

Amazon customers can buy select products, including the Peloton bike, clothing and accessories like shoes and weights, through the official Peloton store.

The news that it will contract a Taiwanese company to supply the bikes comes on the heels of a 92 percent decline in the company’s stock in just one year.

Earlier this year, the company suspended production of its home fitness equipment because of waning consumer demand, according to a report.

Peloton Interactive said on Tuesday that it would cease in-house production of its bikes and treadmills and move manufacturing to partners to simplify its operations and reduce costs. The New York-based company will expand its relationship with Taiwanese manufacturer Rexon Industrial Corp., which will become the primary hardware manufacturer for its bike and tread product lines.

In spite of its struggles, Peloton recently teased plans to introduce a rowing machine, which joins the also recently announced Guide.

Peloton is taking steps to curtail its costs and create a more efficient supply chain by ending all of its owned manufacturing operations.

Peloton announced plans to exit all in-house manufacturing operations and shift to outsourcing in an effort to simplify its operations and reduce costs. About 570 jobs are reportedly impacted.

Peloton has announced that its chief financial officer, Jill Woodworth, is leaving the company and will be replaced by Amazon Web Services executive Liz Coddington, effective June 13th. Woodworth served as Peloton’s CFO since 2018 and will serve as a consultant for Peloton on an interim basis. Coddington, who now faces the task of turning […]

Market watchers were anticipating a rough quarter for Peloton, but not quite this bad. The beleaguered connected fitness company missed revenue estimates by $6 million, reporting $964.3 million – that’s down from $1.26 billion from this time last year. Losses for the quarter hit $757.1 million. All eyes are on new CEO, Barry McCarthy, who […]