Some customers online have complained in recent months that Peloton has not told customers how long the delays will last. And competitors, like SoulCycle’s at-home bike, advertises its much shorter delivery window of just a week.
“To address this issue, we will continue to invest heavily in systems, teams, and manufacturing capabilities to ensure we don’t disappoint our customers going forward. Importantly, we are going to do everything we can to get back on the right side with our new members,” Foley said on an earnings call.
The investment will decrease its near-term profitability, which sent the stock sliding 7% in premarket trading. Shares are up 370% since last February.