Feb 7, 2022
Amazon and Nike exploring Peloton takeover, reports say
Home fitness firm Peloton Interactive is turning the heads of potential buyers such as e-commerce giant Amazon and sports brand Nike, reports say. Peloton is deciding whether to accept any bids, according to the reports. As the pandemic saw gyms close in 2020 demand for Peloton's exercise equipment and remote workout classes jumped, sending its share price soaring. In November, Peloton warned investors that it expected revenue to slow in the year ahead."The primary drivers of our reduced forecast are a more pronounced tapering of demand related to the ongoing opening of the economy, and a richer than anticipated mix of sales to our original bike," it said in a recent letter to shareholders. Last month, investment firm Blackwells Capital called for Peloton's chief executive John Foley to be removed from his post and the business to be put up for sale.
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