Peloton Partners with Costco

(Reuters) – Peloton (NASDAQ:PTON) plans to sell its high-end exercise bikes at some of Costco (NASDAQ:COST)'s U.S. stores and on the retailer's website between Nov. 1 and Feb. 15, the companies announced on Tuesday.

Peloton's Bike+ will be available for $1,999 at 300 of the retailer's stores, and for $2,199 on Costco.com, compared to the usual price of $2,495.

The fitness equipment maker is in the middle of a turnaround plan and posted its first sales increase in nine quarters in August.

Despite this, Peloton has been facing weakening demand for its high-end at-home equipment after a pandemic boom, as customers cut back on discretionary spending amid elevated interest rates and ongoing inflation.