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Peloton CEO acknowledges corrective actions, denies ‘halting all production’ of bikes and treadmills


Ahead of the company’s upcoming earnings, Peloton CEO John Foley took a break from a “quiet period” to address a number of reports related to poor device sales. The executive issued a denial that the company is halting production across its entire bicycle and treadmill line as demand for the devices has begun to crater amid gym re-openings.
Under the heading, “Rumors that we are halting all production of bikes and Treads are false,” Foley writes:
[W]e’ve found ourselves in the middle of a once-in-a-hundred year event with the COVID-19 pandemic, and what we anticipated would happen over the course of three years happened in months during 2020, and into 2021.
We worked quickly and diligently to meet the demand head-on at a time when the world really needed us, in large part thanks …

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