Peloton Recalls Treadmills
The Consumer Product Safety Commission (CPSC) and Peloton announced two separate voluntary recalls today after 70 incident reports, including one reported child death. This recall follows a CPSC warning issued last month and affects over 135,000 Peloton treadmills.
The Peloton treadmill recall affects two models – the Tread and Tread+. The CPSC warns that the screen can fall off the Tread model, while users and pets can be pulled underneath the rear of the Tread+ model, both instances posing risks of injury. The reported injuries to children include 29 cases and include severe abrasions, broken bones, and lacerations.
Peloton has ceased sales and distribution of their Tread and Tread+ units. Consumers are advised to stop using the treadmills immediately and contact Peloton for a full refund or repair.
Peloton gained massive popularity with its stationary bicycle and online training subscriptions. The almost cult-like following of Peloton participants fueled the company’s first billion-dollar quarterly revenue in the second quarter of their 2021 fiscal year. But at the time of this writing, the stock has tumbled nearly $15 per share since the opening bell.
Peloton’s CEO Statetement
Peloton CEO John Foley issued this statement following weeks of negotiations and cooperation with the CPSC that resulted in the recall:
“The decision to recall both products was the right thing to do for Peloton’s Members and their families. I want to be clear, Peloton made a mistake in our initial response to the Consumer Product Safety Commission’s request that we recall the Tread+. We should have engaged more productively with them from the outset. For that, I apologize. Today’s announcement reflects our recognition that, by working closely with the CPSC, we can increase safety awareness for our Members. We believe strongly in the future of at-home connected fitness and are committed to work with the CPSC to set new industry safety standards for treadmills. We have a desire and a responsibility to be an industry leader in product safety.”
- Peloton reported its first billion-dollar quarter – Business Insider