One child’s fatal accident and seventy other reported injuries have led to the recall of all Peloton treadmills. Peloton, a company that sells interactive media experience exercise equipment, had a great year in growth throughout 2020 and 2021. Last year, the bizarre global situation that left millions of people stuck inside their homes drove up interest in a distance-learning exercise regimen.
However, on the eve of Peloton’s annual earnings call, the Consumer Product Safety Commission announced their recommendation that Peloton recalls their Tread+ equipment after one child’s fatal accident involving the product.
The problem with the treadmill is its tread design: the belt that loops around the device is uncovered toward the back, winding down to the floor before reentering the machine. Children playing near the back of the device can be caught by the belt and injured.
Peloton Recall Statement
After initially resisting calls to recall the equipment, Peloton consented, with its CEO apologizing for their hesitance. “I want to be clear, Peloton made a mistake in our initial response to the CPSC’s request,” stated CEO John Foley. “We should have engaged more productively with them from the outset. For that, I apologize.”
The recall affected the company’s bottom line immediately, as well. The company’s stock fell to its lowest point in seven months, falling some 12% due to the news. Some have suggested that the company’s initial hesitance to agree to a total recall could have been related to their pending earnings call. Such calls are the primary way publicly traded companies drum up investor interest in their stock.
If you’ve purchased a Tread+ from Peloton, you’re encouraged to return it to the company in exchange for a full refund. While the treadmills are dangerous to have around children and pets, some owners of these products might prefer to keep them until a replacement becomes available.
Should you choose not to return the treadmill, take steps to store it and operate it safely. Please keep it in a separate exercise room that remains locked when you’re not in it. If there are children in your home, keep the starter key separate from the equipment. Likewise, while exercising with it, make sure no children or pets are in the room with you while the device is operational. That way, you minimize the risks of anyone getting injured.