Peloton Interactive Inc. (PTON) has announced its plans to open its doors in Australia. Besides the United States, this is the first country with an office in Asia-Pacific. Therefore, Peloton does not know the exact date it will begin work, limiting its announcements to the phrase “later this year.”
The only thing that is known is that Australians will be able to buy Peloton bikes and Peloton bikes + exercise machines, popular components. The Peloton app is also available for the country, as mentioned above’s residents. The Peloton will offer the products both online and at select retail showrooms in Sydney and Melbourne.
You should be aware that Peloton Interactive Inc. (PTON) was able to increase its subscriber base during the coronavirus outbreak. Several fitness rooms were closed because of this. Therefore, people accustomed to healthy lifestyles worked out at home. Peloton offers workout equipment and training programs as well.
Peloton’s revenue increased by 128 percent year-on-year to $ 1.065 billion for the last quarter. The net income reached $ 63.6 million, or $ 0.18 a share.
For Peloton, the problem is obtaining spare parts, which forces many people to wait several months before receiving equipment. There is a good chance that the production will resume in the United States and resolve this problem.
It’s worth noting that Peloton recently announced Precor’s purchase, a manufacturer of fitness equipment for clubs. With this expansion, Peloton will gain access to new markets for corporate clients, including hotels, residential communities, corporate campuses.
Peloton Interactive Inc. (PTON) started the day at $111.32 and traded as high as $119.12 during the intraday period. During Wednesday’s trading session, it hit an intraday low of $110.88. A total of 8.75 million shares were traded on Wednesday.