Heard on the Street: Selling on Amazon can help Peloton work off bloated inventory, but profitability won’t be the same
in late August, one month before the end of the equipment company’s fiscal first quarter.
But sales cooled quickly as the world began to recover, and missteps by prior management exacerbated the problem of unsold gear taking a long breather on the company’s books. Peloton ended the calendar year of 2021 with inventory of a little over $1.5 billion—three times the level from the same point the prior year.
It might still be worth it, if it helps Peloton bring inventory under control and expand its subscriber base—. “What this deal shows is Peloton is looking to move units, and Amazon is the best mover of units,” said Simeon Siegel of BMO Capital Markets in an interview.
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