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Dick’s Sporting Goods (DKS) has teamed up with exercise equipment company Peloton (PTON) to sell its products in more than 100 U.S. stores.
No launch date has been set, but Peloton expects to start selling its products in time for the holiday shopping season. It’s the struggling Peleton’s first deal with a brick-and-mortar retailer. Peloton began offering its equipment through Amazon in August.
Demand surged for Peloton’s equipment during the pandemic, and it counts 6.9 million paid memberships. But sales slowed considerably afterward, prompting the resignation of company co-founder John Foley as chief executive.
Current chief executive Barry McCarthy has sought to expand Peloton’s customer base since he was appointed to the top job in February.
Pricing of the equipment will remain relatively the same and the Peloton rowing machine will not be available at Dick’s, CNBC reported.
As of Thursday, at 12:49 p.m. ET, shares of Dick’s Sporting Goods were trading down $3.76, or 3.22%, to $112.98. Peloton stock slid $1.29 a share, or 15.66%, to $6.95.
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