Peloton recalls pedals on 27,000 bikes due to injuries By Hannah Sparks October 15, 2020 | 2:41pm | Updated Enlarge Image Getty Images MORE ON: PELOTON The coronavirus economy's 7 biggest winners and losers Amazon denies any connection to Echelon's Prime Bike New Amazon-sponsored stationary bike sends Peloton shares down Peloton revenue surges as pandemic boosts demand for fitness equipment Peloton is spinning out of control. The fitness brand announced that 27,000 pedals on its bikes are being recalled due to a defect that causes them to break off at the axle, which reportedly leads to injury for users, according to a blog post on its website. The recall applies to its clip-in bike pedals, model PR70P, particularly on bikes manufactured between July 2013 and May 2016. The company received 120 reports of broken pedals and 16 injury claims from customers, “such as stitches to the lower leg,” Business Insider reported. “There is no greater priority than the safety and well-being of Peloton members,” company spokeswoman Amelise Lane told the site. Lane advised customers to stop using the faulty part immediately. stationary bikes, which go for at least $1,890 and require a $39-per-month subscription to access live spin classes that stream onto the cycle’s built-in monitor. With many gyms across the country closed or offering only limited service, the pandemic has prompted big sales for at-home fitness products. Peloton now boasts 3.1 million subscribers total, after a 113% spike in new customers over last year. Nevertheless, the boom has also resulted in backorders for replacement parts, including pedals, for which some customers have already been waiting months https://nypost.com/2020/10/15/peloton-recalls-pedals-on-27000-bikes-due-to-injuries/
Peloton jumped 11%+in its first trading day after announcing the acquisition of Precor (a maker of fitness equipment) for$420m, its biggest deal yet.