NEW YORK (AP) — Peloton says that the recall of its treadmills will shrink its revenue by $165 million in revenue in the current quarter.
The company has to recall about 125,000 of its Tread+ treadmills, after refusing to do so for weeks, even though the machine was linked to the death of one child and the injuries of 29 others.
New York-based Peloton also agreed to stop selling the treadmills.
In a call with Wall Street analysts Thursday, CEO John Foley again apologized for not working with the safety commission sooner and acknowledged that there is work to do to repair Peloton’s image.
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