Peloton’s Earnings Report Is the Latest Blow in Rocky Year (3)

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.

Peleton CEO John Foley discusses fourth-quarter results on Bloomberg TV.

(Source: Bloomberg)

And on Friday, the company disclosed in a securities filing that it has been subpoenaed by ...