Exercise equipment maker Peloton reportedly plans to increase the price of its original Bike and Tread products, citing rising inflation and heightened supply chain costs. One executive explained: “Right now, people are raising prices. Ikea just raised prices. We want to go in the middle of the pack.”
CNBC reports that the exercise equipment maker Peloton is charging customers more for its original Bike and Tread products, increasing prices due to inflation and heightened supply chain costs.
US President Joe Biden speaks about the December jobs report on January 7, 2022, from the State Dining Room of the White House in Washington, DC. (Photo by MANDEL NGAN/AFP via Getty Images)
SAN PEDRO, CALIFORNIA – OCTOBER 25: Trucks operate at the Port of Los Angeles during nighttime operations on October 25, 2021 in San Pedro, California. (Photo by Mario Tama/Getty Images)
From January 31 onwards, Peloton will be adding a $250 delivery and setup fee for its Bike and another $350 for its Tread, bringing the cost of the products to $1,745 for the bike and $2,845 for the treadmill.
Peloton previously stated that the $250 and $350 fees were included in the total price of the products. The price of Pelotons newer Bike+ product is, however, staying the same at $2,495. Prices for the company’s products appear to be increasing across the UK, Germany, and Australia also.
In a recent meeting of company management, Peloton Chief Marketing and Communications Officer Dara Treseder stated that the price increases were the result of growing inflation and higher supply chain expenses. CNBC obtained a recording of the meeting in which Treseder stated: “Right now, people are raising prices. Ikea just raised prices. We want to go in the middle of the pack.”
Treseder added that the company did not want to come across as doing a “switch and bait” on customers. In a statement to CNBC, a spokesperson for Peloton said: “Like many other businesses, Peloton is being impacted by global economic and supply chain challenges that are affecting the majority, if not all, businesses worldwide.”
The spokesperson added: “Even with these increases, we believe we still offer the best value in connected fitness, and offer consumers various financing options that make Peloton accessible to a wide audience.”
While Peloton initially saw great success in 2020 amidst gym closures and worldwide lockdowns, Peloton’s growth has since stalled. Peloton stock prices fell by about 76 percent in 2021, after rising by more than 440 percent in 2020.
Read more at CNBC here.
Doug Mastriano Wins Pennsylvania Republican Gubernatorial Primary
Pennsylvania state Sen. Doug Mastriano (R), endorsed by former President Donald Trump days ago, has won the state’s Republican gubernatorial primary and will face Democrat Josh Shapiro in the general election.
Mastriano, who billed himself as an anti-establishment outsider who would investigate Pennsylvania’s 2020 election results, took a large lead with election day voters and swept some counties with more than 50 percent of the vote.
Trump jumped in to back Mastriano last week while the candidate led multiple polls, some by double digits ahead of former Rep. Lou Barletta (R-PA).
— AP Politics (@AP_Politics) May 18, 2022
Barletta had called on other Republican candidates Bill McSwain and Dave White to drop out of the race and endorse his candidacy to help consolidate support.
Mastriano faces Shapiro in the general election which takes place on November 8.
John Binder is a reporter for Breitbart News. Email him at email@example.com. Follow him on Twitter here.
Chuck Edwards Unseats Madison Cawthorn in North Carolina’s 11 District
North Carolina State Sen. Chuck Edwards (R) unseated Rep. Madison Cawthorn (R-NC) in the state’s 11th congressional district primary.
Dave Wasserman, the House editor of the Cook Political Report, reported that Cawthorn lost his renomination to state Sen. Edwards.
I’ve seen enough: Rep. Madison Cawthorn (R) has lost renomination to state Sen. Chuck Edwards (R) in the #NC11 GOP primary.
— Dave Wasserman (@Redistrict) May 18, 2022
Cawthorn faced increasing attacks from the left and establishment media outlets over many issues, including:
That’s in part because of a striking pattern of unusual behavior: speeding without a valid driver’s license; taking a firearm through security at an airport; wearing lingerie in photos; appearing in a video in which a staffer pantomimes a grab for his groin; gyrating naked on top of another man in bed; accusing unnamed lawmakers of inhaling cocaine and inviting him to an orgy; promoting a cryptocurrency in ways that prompted critics to claim he engaged in insider trading; and calling Ukrainian President Volodymyr Zelenskyy “a thug.”
“I’ve really never seen the swamp launch such a coordinated attack against any individual in politics except for Donald Trump,” Cawthorn said in reaction to the attacks against him.
Former Texas Gov. and Trump Energy Secretary Rick Perry endorsed Edwards during the 11th congressional district primary:
— Chuck Edwards (@ChuckEdwards4NC) May 14, 2022
Sean Moran is a congressional reporter for Breitbart News. Follow him on Twitter @SeanMoran3.
John Fetterman Wins Pennsylvania Democrat Senate Primary
Pennsylvania Lt. Gov. John Fetterman is now the projected winner in the state’s Democrat primary for the U.S. Senate seat.
“John Fetterman wins Democratic nomination for U.S. Senate in Pennsylvania primary election,” the Associated Press declared on Tuesday.
— AP Politics (@AP_Politics) May 18, 2022
I’ve seen enough: Lt. Gov. John Fetterman (D) defeats Rep. Conor Lamb (D) in the #PASEN Dem primary.
— Dave Wasserman (@Redistrict) May 18, 2022
PA — THANK YOU FOR CHOOSING ME AS YOUR DEMOCRATIC NOMINEE FOR U.S. SENATE IN PENNSYLVANIA!!!!!!!! 😭😭
I’m *so* deeply honored. pic.twitter.com/6sa7bC5Vrw
— John Fetterman (@JohnFetterman) May 18, 2022
Fetterman’s victory in the primary comes after he suffered a stroke and underwent treatment at Lancaster hospital well into election day.
“I hadn’t been feeling well, but was so focused on the campaign that I ignored the signs and just kept going. On Friday it finally caught up with me,” Fetterman said on Sunday. “I had a stroke that was caused by a clot from my heart being in an A-fib rhythm for too long.”
On Friday, I wasn’t feeling well, so I went to the hospital to get checked out.
I didn’t want to go – I didn’t think I had to – but @giselefetterman insisted, and as usual, she was right.
The good news is I’m feeling much better + I’m well on my way to a full recovery. pic.twitter.com/WQ5X6QgQen
— John Fetterman (@JohnFetterman) May 15, 2022
Doctors said that Fetterman did not suffer from any cognitive injuries as a result of the stroke. He credited his wife for having him visit the hospital early.
“Fortunately, Gisele spotted the symptoms and got me to the hospital within minutes,” Fetterman said. “The amazing doctors here were able to quickly and completely remove the clot, reversing the stroke, they got my heart under control as well. It’s a good reminder to listen to your body and be aware of the signs.”
John Fetterman has taken a radical position on abortion, referring to the unfettered practice as a “sacred” act.
“Let’s be clear: The right to an abortion is sacred. Democrats have to act quickly – get rid of the filibuster to pass the Women’s Health Protection Act + finally codify Roe into law. We cannot afford to wait,” he tweeted this month.
Let’s be clear: The right to an abortion is sacred.
Democrats have to act quickly – get rid of the filibuster to pass the Women’s Health Protection Act + finally codify Roe into law.
We cannot afford to wait.
— John Fetterman (@JohnFetterman) May 3, 2022
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