Peloton slashes sales projection for 2022
In an internal presentation accessed by CNBC, the company predicted tremendous growth in apparel in 2021 and said that it didn’t have enough supply to keep pace with demand. Peloton’s total revenue was $4 billion in the fiscal year ended June 30, 2021. Of this, it drew in $107 million in revenue, selling just under 2 million units of apparel
By Yashasvini Razdan
Published - Jan 31, 2022, 11:30 PM ET
Last Updated - Feb 14, 2024, 09:48 AM EST
• Peloton reported total revenue of $1.8 billion for the fiscal year ended June 30, 2020,
• For fiscal 2022, it reduced its projection for the apparel division from more than $200 million to $150 million
Reports revealed that Peloton Interactive Inc. (NYSE: PTON) slashed its sales projection for 2022 for its apparel business.
CNBC reported that the momentum in the apparel unit, run by CEO John Foley’s wife, seemed to be fading heading into the next year after apparel revenue more than doubled to over $100 million from 2020 to 2021.
