Peloton PTON, -4.42% is turning to the country’s largest sporting goods retailer in its latest effort to reach more customers.
The connected fitness giant will sell its equipment in Dick’s Sporting Goods DKS, -1.77% stores, the companies revealed Thursday. It’s the first time Peloton’s products will be sold in retail locations outside its namesake stores.
Dick’s Sporting Goods will carry Peloton’s Bike ($1,445), Bike+ ($2,495), Tread ($3,495), Guide ($295), bike shoes, and exercise mats, but will not carry its new rowing machine ($3,195).
- An official launch date hasn’t been set, but the companies are slated to sell Peloton products in more than 100 of Dick’s 700-plus U.S. stores “early in the holiday season.”
- The pricing of the products will not change.
The announcement comes less than two months since Peloton announced it would team up with Amazon to sell products — its first-ever deal with another retailer. Amazon sells Peloton’s Bike, Guide, and accessories, but not the Bike+ and Tread.
Team Turnaround
Peloton and Dick’s are making moves to bounce back after their early pandemic-related success stalled as people returned to gyms.
In the last two months, Peloton announced it would eliminate nearly 800 jobs, reduce its retail locations, and increase prices for the Bike+ and Tread. Several executives stepped down, and Q4 revenue dropped 28% year-over-year to $678.7 million.
Dick’s second-quarter revenue fell 5% year-over-year to $3.11 billion, but increased 38% from the same period in 2019.
Read the original article on FrontOfficeSports.com.
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