Peloton’s revenue dropped 24% in the March quarter compared to a year earlier, the fitness equipment firm reported Tuesday, while its net loss ballooned to $757 million from $8.6 million. The company forecast a 27% drop for the June quarter. The report is the latest sign of struggles at the maker of high-end exercise equipment, which earlier this year replaced its CEO, bringing in a former...
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How Instagram’s TikTok Envy Finally Backfired
Last month, Kim Kardashian, Kylie Jenner and other influencers stirred up a public relations firestorm for Instagram, complaining to their hundreds of millions of followers about the app's recent attempts to mimic TikTok. Those efforts were just part of a broader internal effort to take on the Chinese short-form video app, though. The Information has learned that recent tests of changes to...
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Peloton Announces Job Cuts, Store Closures and Price Hikes
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