Plus, dust-covered gear will likely fetch less than fresh gear. If the price-dropping trend continues, you might want to offload your old gear before it depreciates in value. In fact, Peloton dropped its original bike from $1,895 to $1,495 in August. Remember back in April 2020 when prices for basic equipment like dumbbells and pullup bars were through the roof? That’s hardly the case anymore. Here’s how: Sell your old fitness equipment soon If you’re one of the people ditching at-home workouts for in-person training, you might actually find yourself saving money. The company reported net income of $17.4 million, compared with a loss of $3.1 million in the same period for 2020. Planet Fitness also reported quarterly earnings last week, but - in contrast to Peloton - its figures were far more positive. In an interview last week on CNBC’s “Mad Money,” Planet Fitness CEO Chris Rondeau said that its membership base is already 97% back to its pre-pandemic levels, a figure that he called “unbelievable.” In short, you might be replacing solo workouts on the Peloton in your living room with a real, in-person group fitness class - and you might be swapping Cody Rigsby as your hype man with your actual gym buddies.Īnd it’s true people are heading back to brick-and-mortar gyms.
“We anticipated fiscal 2022 would be a very challenging year to forecast, given unusual year-ago comparisons, demand uncertainty amidst re-opening economies, and widely reported supply chain constraints and commodity cost pressures,” Peloton said in a company shareholder letter that was sent out last week.
Contrast that with the net income of $69.3 million the company reported in the same period last year. 30, 2021, which is considered Peloton’s first quarter of fiscal 2022, Peloton reported a net loss of $376 million. The company’s share price got pummeled last week after Peloton reported earnings and revenue that both missed expectations.įor the three-month period ending Sept. While Peloton saw massive growth in 2020, the at-home fitness bike company is slowing down. ( NerdWallet) – The 2020 fitness industry was all about streaming classes to your living room, with some people purchasing fancy gym equipment like Pelotons for their homes, while others used rice bags, books and gallon water bottles as makeshift weights.īut many gave up on that in 2021.