Peloton remembers treadmills denying they were dangerous | Business and Financial Issues

Peloton remembers his 125,000 machines less than a month later when he denied that they were dangerous, even in connection with the death of a child.

Peloton remembers about 125,000 treadmills, less than a month old that they denied being dangerous and could not be removed from the market, despite being linked to the death of a child and the injury of 29 others.

The company said Wednesday that it would offer the full amount of Peloton Tread +, which costs more than $ 4,200. It will stop selling them.

The commemoration comes after the United States Consumer Product Safety Commission warned on April 17 that people with children and pets should stop using Treadmill + after a child is dragged under it and dies.

At the time, Peloton defended the security services, saying the warning was “inaccurate and misleading” and that there was no reason to stop using the machine. CEO John Foley also said he had “no intention” of remembering the treadmill.

In a statement Wednesday, Foley apologized and said the company had “made a mistake” in its initial response to the security services.

Shares of Peloton Interactive Inc based in New York fell more than 10% to $ 86.91 after the announcement was reversed Wednesday, its second-low decline.

Peloton is best known for its state-of-the-art bicycles, but it introduced mechanical engineering almost three years ago. Sales of Peloton weapons have increased dramatically during the epidemic as people tired of the virus avoid exercise and work from home. In the last three months of 2020, the company brought in $ 1bn in revenue, more than double the amount it made last year.

Overall, Peloton said he had received 72 reports of adults, children, pets or other objects, such as fitness balls, being pulled under a trampoline. Of those reports, 29 were of children injured, including bones and wounds. One child, aged six, died.

Treadmill owners have until November 6, 2022, to be relocated from Peloton. For those who want to keep a treadmill, Peloton said it should be free to run in a room where children or pets cannot access it and modify the program so that the required ticket is opened.