{"id":17840,"date":"2021-11-05T09:17:16","date_gmt":"2021-11-05T16:17:16","guid":{"rendered":"https:\/\/marketdepth.com\/?p=17840"},"modified":"2021-11-17T09:20:22","modified_gmt":"2021-11-17T17:20:22","slug":"peloton-shares-tumble-as-it-loses-momentum","status":"publish","type":"post","link":"https:\/\/marketdepth.com\/peloton-shares-tumble-as-it-loses-momentum\/","title":{"rendered":"Peloton Shares Tumble as it Loses Momentum"},"content":{"rendered":"\n
Peloton (NASDAQ: PTON)<\/strong> shares fell over 30% Friday after it cut its annual sales forecast by approximately USD1 Billion. Furthermore, though revenue rose 6%, it missed analyst expectations.<\/p>\n\n\n\n \u201cWe 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.\u201d<\/p>Chief Executive Officer John Foley said in a letter to shareholders<\/cite><\/blockquote>\n\n\n\n The fitness company has experienced a surge of growth throughout the coronavirus pandemic as people opted for more at-home workouts. Nevertheless, the momentum is subsiding as consumers begin to return to gyms. On Thursday, Planet Fitness revealed that its memberships were almost back to pre-pandemic levels.<\/p>\n\n\n\n \u201cFrom forecasting consumer demands to accurately predicting logistics costs, our teams have never seen a more complex operating environment in which to guide our expected results this year.”<\/p>CEO John Foley said in a Company’s Earnings Conference Call<\/cite><\/blockquote>\n\n\n\n The company reported earnings of USD1.25 per share, compared to the expected USD1.07 a share. Revenue amounted to USD805.2 Million, lower than analyst anticipated USD810.7 Million.<\/p>\n\n\n\n Foley revealed that Peloton\u2019s website traffic simmered down faster than it had anticipated within recent months. Moreover, customer visits to store locations were also down, Foley said.<\/p>\n\n\n\n \u201cDemand is coming in lower on all fronts leading us to wonder when we might see a return on all the capital they have deployed,\u201d analysts at the firm said in a note to clients. \u201cLong term, the connected fitness opportunity could still be intact but the path to get there appears more difficult.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Peloton (NASDAQ: PTON) shares fell over 30% Friday after it cut its annual sales forecast by approximately USD1 Billion. Furthermore, though revenue rose 6%, it missed analyst expectations. \u201cWe 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… View Article<\/a>","protected":false},"author":3,"featured_media":17841,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"pmpro_default_level":0,"footnotes":""},"categories":[31,11,12,7,16],"tags":[],"acf":[],"yoast_head":"\nWebsite and Store Traffic Down<\/h5>\n\n\n\n
Demand Lower<\/h5>\n\n\n\n