Peloton’s stocks plummet following the announcement of a larger-than-anticipated loss.
May 8, 2023 : Shares of Peloton plunged by 13% on Thursday after the company announced a larger-than-expected loss for Q3 of 2021 and its first-ever predicted decline in subscribers due to an uncertain economic backdrop. Although subscriptions have become a bigger share of Peloton’s business, accounting for 60% of total revenue in the quarter, its hardware sales continue to lag.
J.C. Penney Continues to Struggle Despite Efforts to Boost Sales and Profitability
May 8, 2023 : According to Simon Property Group CEO David Simon, J.C. Penney, the struggling department store that suffered year-on-year declines in 2022 and declared bankruptcy in 2020 has been showing signs of progress.
