Professional fitness group Peloton remembers his treadmill after he was injured and killed one of the machines, and sent the shares to the company in less than a month.
This comes two weeks after the US Consumer Product Safety Commission is urging people with small children or pets to stop using the Peloton machine, following a study of the death of a child. There were 72 reports of adults, children, pets or other items being pulled from the back of the Treadmill, according to the agency.
Peloton had rejected CPSC’s original warning, calling it “misleading and misleading” and that anyone over the age of 16 could continue to use Tread +.
Peloton CEO John Foley apologized Wednesday, saying the company had “erred in its first response to the Consumer Product Safety Commission’s request to remember Tread +”.
Foley added: “We would have been very involved from the start. For this, I apologize.”
Under a partnership with supervisors, Peloton freely remembers its treadmill + and Treadmread machines and will provide full refunds to customers who want to refund their machines. The Tread + sells for about $ 4,300.
Owners have been advised to stop using the treadmill, and Peloton was working on some modifications, CPSC said.
The CPSC agreement “came about as a result of strong negotiations and strong efforts, which resulted in a partnership that I think benefits Peloton and its customers”, according to Robert Adler, executive committee chairman.
Foley said the company was “committed to working with the CPSC to develop new ways to protect companies in the manufacturing process. We have a desire and responsibility to be a business security leader.”
Richard Blumenthal, a Democratic filmmaker from Connecticut, fired a shot but said it was “too late”, criticizing Peloton for obstructing CPSC’s investigation.
Peloton, best known for its high-end bicycles connected to live classes, launched their treadmill in 2018. It announced last year that it was launching a low-end version of its treadmill, Tread, at a low price of around $ 2,500.
Shares in Peloton fell 10% to $ 87.08, up from a record high in September.
On the Peloton Tread Facebook group, which has 32,000 members, users complained about the memory and expressed support for the company. Many reaffirmed the commitment of memory. “Taking My Feet? What army are you with? ”Wrote one.
When one person asked the group, “How many of you have returned this?”, Few said they would. Other answers were “No”, “Not Me !!” and “NEVERRRRRR !!!!!!!!”.
According to Peloton’s customer service, all successful orders that have not been delivered “are in the category of removal and refund”. The company also runs a software program that automatically shuts off the machine each time you use it.
After Peloton announced its acquisition for the quarter on Thursday, revenue is expected to reach $ 1.1bn, a new record, according to Refinitiv. The group has been struggling to comply with the law in the past year when millions of people have restored home gyms and closed gyms.