Peloton Picks Dick's as First Non-Company-Owned Brick and Mortar Retailer for its Goods

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Published: September 30, 2022 3:45 am

Last Updated: September 30, 2022 12:30 pm

Peloton Interactive Inc. (US:PTON) said it reached a deal to sell its popular exercise products at more than 100 Dick’s Sporting Goods (US:DKS) stores on Thursday.

The company said it’s the first time it will sell products in physical locations other than its stores.

Peloton said its merchandise should be in Dick’s stores in time for the holiday season.

Peloton shares fell 16% to $6.95.

Peloton’s been rejigging its management to deal with the crisis, and on Sept. 12, accepted the resignations of John Foley as Executive Chair and Hisao Kushi as Chief Legal Officer.

Foley co-founded Peloton in 2012 and was widely hailed for building the company into the largest interactive fitness company in the world. He served as Peloton CEO for ten years and became executive chairman in February.

Peloton director Karen Boone takes over as chairman. She’s been a director since 2019 and lead independent director in 2021. She joined the company after serving as President, Chief Financial and Administrative Officer of Restoration Hardware (RH).

Kushi co-founded Peloton and has served as its Chief Legal Officer since 2015.

Tammy Albarran will replace Kushi as Chief Legal Officer and Corporate Secretary for Peloton, effective Oct. 3, 2022. Before joining Peloton, she worked as Chief Deputy General Counsel and Deputy Corporate Secretary at Uber Technologies (US:UBER).

The Dick’s deal is Peloton’s second move away from selling its goods only on its website.

In April, its shares rose 20% after the firm’s executives released news about a successful deal brokered with e-commerce giant Amazon (US:AMZN).

Under that agreement, Peloton will expand its distribution footprint with a suite of products available to millions of Peloton Members and potential customers. The push aims to make products more readily available to consumers across the United States.

This article originally appeared on Fintel

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