February 07, 2022
Peloton’s market capitalization has plunged over the past two weeks on near-daily headlines of production pauses, slashed sales forecasts and planned layoffs, but shares have bounced back on reports that the connected fitness company could be a takeover target.
Lapping last year’s big windfall from reorganizing its Descente China Holding JV, net income declined 60% in the fiscal third quarter ended Dec. 31 to ¥2,465 million ($21.7 mm) from ¥6,093 million, on 13% higher sales of ¥26,755 million ($235.4 mm), up from ¥23,741 million.
The Ocean Shipping Reform Act has now moved out of the Senate’s Commerce, Science, and Transportation committee after its House companion bill passed that chamber 364-40 in Dec.
The Eager Beavertons participated in a $75 million funding round for the Women’s National Basketball Association, the league’s largest capital raise ever.
The minimal athletic footwear brand is entering the U.S. market with a Spring/Summer shoe collection that will initially be sold only online through the company’s DTC e-commerce site.