Peloton Interactive (NASDAQ:PTON) shares dipped about 0.5% early Tuesday but quickly rebounded after a Bloomberg report indicated that the company’s latest AI-enabled fitness products are off to a soft start.
Bloomberg stated that Peloton’s new Cross Training Series has seen only limited early traction at major U.S. retail partners in the eight weeks since launch. Store managers at Dick’s Sporting Goods and Johnson Fitness & Wellness — Peloton’s primary physical retail distributors — said the upgraded treadmills and bikes have helped bring more shoppers into stores, but that this interest has not yet translated into strong sales.
Despite the muted opening, Peloton is reportedly optimistic that demand will improve as the holiday season ramps up. The company has already rolled out Black Friday offers, including promotions with discounts reaching $1,500 on bundles pairing treadmills with accessories.
The report also noted that Peloton has boosted its maritime imports ahead of peak shopping weeks, based on shipment data from ImportGenius, signaling that the company is preparing for heavier seasonal demand.
The Cross Training Series is a central element of Peloton’s broader turnaround strategy as it works to reinvigorate growth following several years of post-pandemic sales challenges. Peloton did not provide a comment in response to the Bloomberg report.