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Peloton treadmill recall to lower fourth-quarter sales by $165 million

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A detail shot shows the running deck of a Peloton Tread treadmill during CES 2018 at the Las Vegas Convention Center on January 11, 2018 in Las Vegas, Nevada.

Ethan Miller | Getty Images

Peloton said Thursday it expects its fiscal fourth-quarter sales to take a $165 million hit due to a treadmill recall.

It has halted sales of the machines globally and will be delaying an upcoming launch of its less-expensive treadmill in the United States until further notice.

Peloton also said it expects to incur costs because it is offering customers full refunds and will also waive membership fees for all of its current treadmill customers for three months.

“Our goal is to have the best safety features…



Source cnbc.com

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