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.
Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship. Follow him on Twitter @LucasNolanor email him at lnolan@breitbart.com
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).
BREAKING: Douglas Mastriano wins Republican nomination for governor in Pennsylvania primary election. #APRaceCall at 9:51 p.m. EDT. https://t.co/2nlgpji7ac
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 jbinder@breitbart.com. Follow him on Twitter here.
“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:
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.
BREAKING: John Fetterman wins Democratic nomination for U.S. Senate in Pennsylvania primary election. #APRaceCall at 8:54 p.m. EDT. https://t.co/2nlgpji7ac
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
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.