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☆ We still don’t know how the Lebanon pager attack happened. Here’s what we do know about our own electronic devices
▼ + stars: | 2024-09-17 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —So far, the attacks that targeted Iran-backed Lebanese militant group Hezbollah members through their pagers have had devastating consequences. Justin Cappos, a cybersecurity professor at NYU, said that it’s possible to cause damage to a variety of batteries – most commonly lithium batteries, which have caused dangerous fires. If correct, this would suggest a very high penetration of Hezbollah’s supply chain for those devices,” Horowitz said over email. When it comes to battery safety, the National Fire Protection Association has a set of safety guidelines for lithium batteries, such as properly disposing of them. A Lebanese security source told CNN that Hezbollah had recently purchased the devices.

Persons: Israel, they’ve, Justin Cappos, ” Cappos, Baptiste Robert, Michael Horowitz, “ We’ve, ” Horowitz, CNN’s Christian Edwards, Adrienne Vogt, Aditi Sangal Organizations: New, New York CNN, CNN, Israel Defense Forces, NYU, Predicta, Le Beck, Fire Protection, Samsung, Galaxy, US Consumer Product Safety, Hezbollah Locations: New York, Iran, Lebanese, Israel

☆ Florida high school football player Chance Gainer dies after game
▼ + stars: | 2024-09-07 | by ( Amanda Musa | ) edition.cnn.com time to read: +3 min

CNN —A beloved Florida high school football player died after he collapsed during a game Friday night, school officials say, bringing the number of recent known deaths among high school athletes to seven. Alabama teen Semaj Wilkins died August 13 after a medical emergency during football practice at New Brockton High School, according to CNN affiliate WDHN. His smile radiatedGainer scored two touchdowns on the night of his death, Norton said, leading the team to victory. The high school there has about 500 students and is very close knit. Gainer had recently visited Vanderbilt University in Nashville, where he had hoped to play football, according to Norton.

Persons: Chance Gainer, Jim Norton, ” Norton, “, Chance, ”, Gainer, Norton, Semaj Wilkins, Caden Tellier, Cohen Craddock, Joe, ” Chance, Sissy Godwin, CNN’s Madeline Holcombe Organizations: CNN, Port St, Joe High School, Liberty County High School, Gulf District, National Federation of State High School, Associated Press, New Brockton High School, WDHN, US Consumer Product Safety Commission, “ School, Vanderbilt University, Norton, Vanderbilt Locations: Florida, Florida’s, Alabama, Pensacola , Florida, plateauing, Port St, Port, Nashville

☆ U.S. safety regulator calls for probe of Temu, Shein over 'deadly baby and toddler products'
▼ + stars: | 2024-09-04 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

Two U.S. Consumer Product Safety Commission members are urging the agency to probe safety practices of "foreign-owned" e-commerce platforms such as Shein and Temu, specifically the alleged sale of "deadly baby and toddler products." "Our interests are aligned with the U.S. Consumer Product Safety Commission (CPSC) in ensuring consumer protection and product safety, and we will cooperate fully with any investigation," the Temu spokesperson said. CPSC officials have asked for more funding to hire staffers to monitor emerging e-commerce platforms such as Temu and Shein over safety practices, according to The Information. Last April, a congressional commission released a report detailing issues with Shein, Temu and other "Chinese 'fast fashion' platforms.'" They alleged the sites have numerous product safety hazards, are connected to the use of forced labor and are exploiting trade loopholes, among other concerns.

Persons: Peter Feldman, Douglas Dziak, Temu, Shein Organizations: U.S, Consumer Product Safety, U.S . Consumer Product Safety, Discount, Google, PDD Holdings, Amazon, CNBC Locations: U.S, China

☆ Samsung recalls over 1 million electric ranges due to fire hazard
▼ + stars: | 2024-08-09 | by ( Marlene Lenthang | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +2 min

Samsung has issued a recall for over 1 million slide-in electric ranges due to fire hazard after the company received reports that its front knobs could be unintentionally activated by people or pets, and resulted in 250 blazes. Since 2013, Samsung received over 300 reports of the "unintentional activation" of the range's front-mounted knobs by humans or pets. Samsung is offering free knob locks or knob covers as a remedy to the issue. Further, some Samsung ranges with Wi-Fi connectivity can send users a notification via the Samsung SmartThings app to warn when a burner is activated. The company is also participating in a CPSC “Joint Gas and Electric Range Knob Working Group” along with other major brands to improve knob safety standards.

Persons: ” Organizations: Samsung, U.S . Consumer Product Safety, ” Samsung, Gas Locations: U.S, ”

☆ Samsung is recalling stoves that let pets set homes on fire
▼ + stars: | 2024-08-08 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —Samsung is recalling knobs on some of its electric stoves, warning that fires can be set off if pets — or even humans — bump into them. Several videos have shown pets accidentally igniting fires from jumping onto stoves and pawing at the knobs. Samsung will provide free knob locks or covers for certain slide-in electric ranges with front-mounted knobs that were sold between 2013 and 2024. CPSC is looking into fires caused by stoves due to pets jumping on them or humans accidentally bumping into them. Knob locks for Samsung range.

Persons: Samsung, CPSC Organizations: New, New York CNN, Samsung, Product Safety, Samsung Samsung Locations: New York, Colorado

☆ Federal regulator says Amazon can be held responsible for faulty goods sold on its marketplace
▼ + stars: | 2024-07-30 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +4 min

Federal regulators have determined that Amazon can be held responsible for defective goods sold by third-party merchants on its online marketplace, rejecting the company's position that it's merely an intermediary between consumers and sellers. Amazon's marketplace, which hosts millions of third-party sellers, now accounts for approximately 60% of the company's e-commerce sales. The company has previously said it invests hundreds of millions of dollars per year to ensure products sold are safe and compliant. At issue were 418,818 goods sold through Amazon, including faulty carbon monoxide detectors, hairdryers without electrocution protection and children's sleepwear that posed a burn risk. This program gives Amazon "far-reaching control" over the products sold on its platform, the judge said.

Persons: it's, It's, they're Organizations: U.S . Consumer Product Safety Commission, Amazon, Consumer Locations: Robbinsville , New Jersey, U.S, Tennessee

☆ Amazon can now be held responsible for dangerous products sold on its platform, government
▼ + stars: | 2024-07-30 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +4 min

New York CNN —A US safety regulator announced Tuesday that it voted unanimously to hold Amazon responsible for faulty or unsafe products sold by third-parties on its website and app. The US Consumer Product Safety Commission, tasked with ordering companies to recall dangerous products sold in America, said it found more than 400,000 defective products sold on Amazon’s platform that the online retailer now must recall or face legal consequences. The ruling today underlines the CPSC’s crackdown on products it views as unsafe. The agency first sued the mega-retailer in 2021, when it said it was cracking down on Amazon because it has limited ability to force a recall of foreign products. Amazon claims in a statement when it was notified about the potential safety issues, it “swiftly notified customers, instructed them to stop using the products, and refunded them.”CNN’s Chris Isidore contributed to this report.

Persons: Joe Biden, “, CPSC, Robert Adler, ”, CNN’s Chris Isidore Organizations: New, New York CNN, US Consumer Product Safety Commission, Amazon, Consumer Locations: New York, America

☆ Kentucky motel ordered to pay $2M after fatal scalding shower incident
▼ + stars: | 2024-07-19 | by ( Zenebou Sylla | ) edition.cnn.com time to read: +2 min

Two associates of Chronis rushed to his aid after hearing his fall and screams, according to the complaint. The shower delivered water at an “extremely excessive temperature,” the complaint stated. The temperature was more than 150 degrees, according to Chronis’ family attorney, N. Jeffrey Blankenship. Most adults will suffer third-degree burns if exposed to 150-degree water for two seconds, according to the Consumer Product Safety Commission. Two days later, Chronis returned to the hospital for skin graft surgery and remained hospitalized for nearly five months, according to the complaint.

Persons: “ scalded, Alex Chronis, ”, Chronis ’, Chronis, Jeffrey Blankenship, Blankenship, Sanjay Patel, “, Patel, Lindsay Rump Organizations: CNN, Consumer Product Safety Locations: Kentucky, Erlanger , Kentucky, Cincinnati, Knoxville , Tennessee, Erlanger

☆ Bissell recalls 3.2 million handheld steam cleaners after reports of burn injuries
▼ + stars: | 2024-07-18 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +1 min

New York CNN —Bissell has recalled about 3.2 million handheld Steam Shot cleaners, which are popular across social media, after more than 150 burn injury reports. The handheld steamers, which come in a variety of colors, are among the top search results for “steam cleaner” on TikTok. Bissell said it received 183 reports of hot water or steam escaping from the steamer, which includes 157 reports of minor burn injuries. The recall targets steam cleaners in the model series 39N7 and 2994. “STEAM SHOT” or “POWER STEAMER” is printed on the side of the affected product.

Persons: New York CNN — Bissell, Bissell Organizations: New, New York CNN, Consumer Product Safety, Target, Walmart, Bissell, Amazon Locations: New York, TikTok, Canada

☆ 21 million Miniverse toy sets recalled due to danger of skin burn, eye and respiratory irritation
▼ + stars: | 2024-06-25 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +2 min

New York CNN —Millions of Miniverse toy sets made by toymaker MGA Entertainment have been recalled because they pose a serious risk of skin burn, eye and respiratory irritation when touched, inhaled or ingested, the US Consumer Product Safety Commission said Tuesday. The recall involves the “Make it Mini” sets which contain resins that, when liquid, can cause those injuries and irritations to young children and adults alike. The CPSC also found that the resins contain chemical compounds called “acrylates” in amounts that are prohibited in children’s products. The CPSC said MGA Entertainment has received 26 reports of incidents with the toy sets from children and adults, including reports of skin burns and irritation, and respiratory irritation, with one report that it triggered a case of asthma in the user. 21 million Miniverse toy sets are being recalled due to danger of skin burn, eye and respiratory irritation.

Persons: irritations, Multipack Organizations: New, New York CNN, toymaker MGA Entertainment, US Consumer Product Safety, MGA Entertainment, Consumer Product Safety, UPC, Target, Walmart, ALDI, Hobby, MGA Locations: New York, Canada

☆ Vitamix recalls almost 570,000 blender parts
▼ + stars: | 2024-06-20 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

After dozens of reports of lacerations from exposed blades, Vitamix announced a recall of about 569,000 blending containers and blade bases for its high-powered blenders. All affected customers should immediately stop using the recalled parts, the company said, and contact Vitamix for a repair kit. Vitamix instructed customers who repaired their blenders in the 2018 recall to stop using those blender parts as well. The recall affects all Ascent and Venturist Series 8-ounce blending containers, 20-ounce blending containers, and blade bases. Ascent blenders can retail for up to $749.95 and the Venturist V1200 can retail for up to $549.95 on the Vitamix website.

Persons: Vitamix, Williams Organizations: New, New York CNN, CNN, Consumer Product Safety, Costco, Walmart, QVC Locations: New York, Target, Williams Sonoma

☆ Medline Recalls 1.5 Million Adult Bed Rails After 2 Deaths
▼ + stars: | 2024-05-30 | by ( Johnny Diaz | More About Johnny Diaz | ) www.nytimes.com time to read: +1 min

Medline Industries, a medical supply company, is recalling about 1.5 million portable adult bed rails in the United States and Canada after two reported deaths involving the product, federal safety regulators said. The U.S. Consumer Product Safety Commission said on Thursday that users of the Medline Bed Assist Bar can become entrapped within the bed rail or between the product and the side of a mattress. “This poses a serious entrapment hazard and risk of death by asphyxiation,” the agency said in a statement. “Consumers should immediately stop using the recalled bed rails and contact Medline for a refund.”The commission said that Medline received two reports of deaths associated with the Bed Assist Bars. The deaths took place in July 2019 and November 2023 and involved the entrapment of a 76-year-old woman at a senior nursing facility in Iowa and an 87-year-old woman at a residential care facility in South Carolina, according to the agency.

Organizations: Industries, U.S . Consumer Product Safety Locations: United States, Canada, Iowa, South Carolina

☆ Peloton cuts jobs and is looking for a new CEO after its turnaround plan spins out
▼ + stars: | 2024-05-02 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Peloton CEO Barry McCarthy is leaving his role, and the company is cutting about 15% of its workforce as numerous attempts to regain its pandemic-era glory have failed. McCarthy, who was named CEO just two years ago, will become a strategic advisor through the end of the year, Peloton said in a press release. In his place, Peloton has started a “comprehensive search process” for his replacement and two executives will become interim co-CEOs in the meantime. Peloton also announced that it’s eliminating 400 jobs, which will help the company cut $200 million in costs. McCarthy, a former chief financial officer of Spotify and Netflix, tried to engineer a number of ideas to turn around Peloton.

Persons: Barry McCarthy, McCarthy, Lululemon Organizations: New, New York CNN, Spotify, Netflix, Consumer Product Safety, Sporting Goods Locations: New York

☆ Toddler of Phoenix first responder dies after bounce house goes airborne
▼ + stars: | 2024-05-01 | by ( Sydney Bishop | Brammhi Balarajan | ) edition.cnn.com time to read: +1 min

CNN —A 2-year-old child died after a strong gust of wind sent the bounce house he was in airborne and into a neighboring lot in central Arizona, the Pinal County Sheriff’s Office said. The toddler, Bodhi Naaf, is the son of Phoenix firefighter Karl Naaf, according to the United Phoenix Firefighters Local 493 union. “This appears to have been a tragic accident,” Pinal County Sheriff’s Office spokesperson Lauren Reimer said in a statement. In its news release, the sheriff’s office did not say whether the bounce house in this case was staked and anchored. A 2022 study by the American Meteorological Society reported 132 wind-related bounce house incidents worldwide from January 1, 2000, to December 31, 2021.

Persons: Bodhi, Phoenix, Karl Naaf, Lauren Reimer, CNN’s Robert Shackelford Organizations: CNN, Pinal County Sheriff’s, United Phoenix Firefighters, Pinal County Sherriff’s Office, US Consumer Product Safety Commission, American Meteorological Society, Phoenix Fire Locations: Arizona, Pinal County, Casa Grande

☆ Children’s ‘Yoto Mini’ speaker recalled for burn and fire hazards
▼ + stars: | 2024-04-11 | by ( John Towfighi | ) edition.cnn.com time to read: +2 min

CNN —A children’s mini speaker is being recalled for potential burn and fire hazards. Parents are advised to remove the Yoto Mini from their children’s reach immediately, but recalled units do not need to be discarded. Those who own the speaker should contact Yoto to receive a free Yoto Mini Smart Cable, which can charge the speaker battery to a safe level, Yoto said in a statement. “Anyone who has a Yoto Mini can now register to receive one Yoto Mini Smart Cable per device through our dedicated website. Yoto also said it implemented an automatic software update across all Yoto Mini speakers to “improve battery management,” according to a company statement.

Persons: Yoto, “ Organizations: CNN, Product Safety, Smart Cable Locations: United States, Canada

☆ 8.2 million packets of Tide, Gain, Ace, and Ariel detergent pods recalled over faulty packaging
▼ + stars: | 2024-04-05 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +2 min

The recall involves Tide, Gain Flings, Ace and Ariel liquid laundry detergent pod packets, which were made between September 2023 and February 2024 and sold in flexible film bags in the United States. The CPSC warned that eating a large quantity of detergent can result in death, especially among people with underlying health issues. There have been no confirmed cases of injury directly related to this packaging defect, the CPSC said. Consumers can check for recalled lot codes at pg.com/bags and compare them to codes at the bottom of their package. The CPSC has advised consumers to immediately put recalled bags out of sight and reach of children.

Organizations: New, New York CNN, Procter & Gamble, US Consumer Product Safety, Sam’s, Target, Walmart, Amazon, Procter, Gamble Locations: New York, United States

☆ Two million Black+Decker steamers have been recalled after more than 80 reports of burn injuries
▼ + stars: | 2024-04-04 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +1 min

New York CNN —Two million Black+Decker steamers have been recalled after more than 80 reports of burn injuries, the US Consumer Product Safety Commission announced Thursday. More than 500,000 of these steamers were already recalled in November 2022, but the recall expanded Thursday to include 1.6 million more. The recall noted that 94 of the 317 reports happened with repaired steamers from the 2022 recall or from models with an updated design. Some customers received a replacement upper assembly as part of the 2022 recall — those customers should receive a refund as well. The steamers were sold in store and online at Walmart, Target, Amazon, Bed Bath & Beyond, as well as other retailers.

Organizations: New, New York CNN, US Consumer Product Safety, Garment Steamers, Walmart, Target Locations: New York

☆ 5 products for kids you should avoid buying on Temu and how to find safe alternatives, according to a pediatrician
▼ + stars: | 2024-03-15 | by ( Kelly Burch | ) www.businessinsider.com time to read: +5 min

A pediatrician says there are five kinds of products you shouldn't buy and shares advice on finding safe, affordable alternatives. Advertisement"If you're buying, you have to understand you're not getting all the safety and quality that you can get from other retailers," Shapiro said. StrollersLike cribs, strollers are subject to recall in the US, as well as safety regulations. When you're buying from a reputable retailer that's subject to US regulations, more expensive doesn't necessarily mean safer, he noted. "Because it's cheaper doesn't mean that it's better, or worse," as long as it meets safety regulations, Shapiro said.

Persons: —, Ilan Shapiro, Shapiro, it's, haven't Organizations: Service, AltaMed Health Services, Consumer Product Safety, Seattle Children's Hospital, Juvenile Products Manufacturers Association Locations: China, headrests, Seattle

☆ Best Buy recalls more than 250,000 Insignia air fryers due to fire, burn and laceration hazards
▼ + stars: | 2024-03-15 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +1 min

New York CNN —Best Buy has recalled more than 250,000 Insignia air fryers sold in the United States and Canada, because of fire, burn and laceration hazards. Customers are advised to immediately stop using the fryers and can visit this site for instructions on how to submit images of damaged air fryers. Affected customers can get a refund check or Best Buy store credit. The recall noted customers should not try to return the air fryers at Best Buy stores. Last February, roughly 2 million Cosori air fryers were recalled because they posed a possible fire risk.

Persons: Air Fryer, •, fryer Organizations: New, New York CNN, US Consumer Product Safety, Air, Customers Locations: New York, United States, Canada

☆ About 63,000 Infant Swings Are Recalled Over Suffocation Hazard
▼ + stars: | 2024-03-10 | by ( Johnny Diaz | ) www.nytimes.com time to read: +1 min

Jool Baby, a brand of children’s products, has recalled about 63,000 infant swings that were sold at Walmart stores and online because they posed a suffocation risk, federal safety regulators said. The U.S. Consumer Product Safety Commission said on Thursday that the Jool Baby Nova Baby Infant Swing that was marketed, intended or designed for infant sleep posed a suffocation risk because it had an incline angle greater than 10 degrees. The product was in violation of the commission’s Infant Sleep Products Regulation and the Safe Sleep for Babies Act, the agency said. A study cited in the federal regulation of infant sleep products found that infants who slept in products with a 20-degree incline were exposed to increased demand on the abdominal muscles, which could lead to fatigue and suffocation. The same study determined that an incline of 10 degrees or below does not significantly affect infant motion or muscle activity.

Organizations: Walmart, U.S . Consumer Product Safety

☆ That security camera and smart doorbell you’re using may have some major security flaws
▼ + stars: | 2024-03-09 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +11 min

… I’m completely done with smart devices like that.”24-year-old Heather Hines is among the Wyze users whose personal camera footage was viewed during a recent security breach. Henderson, who owns 10 Wyze cameras, said he is starting to replace them with other brands. It also raises the question about whether the value of smart devices is worth the risks. Amazon and Google have experienced security breaches with Ring and Nest security devices in recent years. People can also reconsider how many smart devices they actually need in the home.

Persons: Heather Hines, Hines, ”, “ I’m, ” Hines, I’m, Eddie Henderson, Henderson, Dave Cosby, Tuck, Paddy Harrington, That’s, Michela, Michela Menting, “, ” Harrington, It’s, you’ve, they’ll, ” Menting Organizations: CNN, Wyze, Consumer, Amazon, Walmart, Sears, Federal Communications Commission, US, Forrester Research, Attackers, Google, ABI Research, Consumer Product Safety, White, FBI Locations: Southern California, Nova Scotia, Canada, China, ” Haddington

☆ Mouthwash recalled nationwide over poisoning risk
▼ + stars: | 2024-02-29 | by ( John Towfighi | ) edition.cnn.com time to read: +1 min

New York CNN —One brand of hydrogen peroxide mouthwash is being recalled nationwide for posing a potential poisoning risk for children. The Consumer Product Safety Commission announced February 29 that Heritage Store Hydrogen Peroxide Mouthwash is being recalled for a lack of child-resistant packaging required for products containing a certain concentration of ethanol. Flavors being recalled include eucalyptus mint and wintermint, sold in brown bottles with a white lid. The mouthwash has been sold in stores such as Whole Foods, Fresh Thyme Farmers Market, Mom’s Organic Market, New Season’s Market and Mother’s Market & Kitchen. For questions about poisoning or if you need emergency assistance, call Poison Help at 1-800-222-1222 or visit Poison.org for additional resources.

Organizations: New, New York CNN, Product Safety, Nutraceutical Corporation Locations: New York, Utah

☆ How to have a safe treadmill workout and avoid injury
▼ + stars: | 2024-02-22 | by ( Melanie Radzicki Mcmanus | ) edition.cnn.com time to read: +6 min

A nurse practitioner at Nationwide Children’s Hospital in Columbus, Ohio, he and a colleague did a study on treadmill burns in children who were treated at the hospital. The 2017 study, published in the Journal of Burn Care & Research, found treadmill burns were more severe than burns from touching a hot stovetop. “What struck us most was that these treadmill burns were very deep and hard to heal,” Noffsinger said. Top treadmill safety measuresFortunately, it’s relatively easy to use a treadmill safely, experts said. “You should never have a child in the same room as an operating treadmill,” Stevenson said.

Persons: CNN —, ”, Clark Stevenson, CPSC, Dana Noffsinger, ” Noffsinger, “ We’ve, Noffsinger, Stevenson, “, Kyle Firmstone, Firmstone, ” Firmstone, “ I’ve, ” Stevenson, “ That’s, Melanie Radzicki McManus Organizations: CNN, US Consumer Product Safety, Nationwide Children’s Hospital, Burn Care, Research Locations: Memphis , Tennessee, Columbus , Ohio, New York City

☆ ‘Everywhere’ chemicals linked to rise in preterm births, study says
▼ + stars: | 2024-02-06 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +9 min

Now, researchers have found synthetic chemicals called phthalates used in clear food packaging and personal care products could be a culprit, according to a new study. “Studies show the largest association with preterm labor is due to a phthalate found in food packaging called Di(2-ethylhexyl) phthalate, or DEHP,” Trasande said. “In our new study, we found DEHP and three similar chemicals could be responsible for 5% to 10% of all the preterm births in 2018. “This paper focused on the relationship between exposure to individual phthalates and preterm birth. “Every day, they’re often exposed to more than one phthalate from the products they use, so the risk of preterm birth may actually be greater,” said Friedman, who was not involved in the study.

Persons: phthalates, ”, Dr, Leonardo Trasande, ” Trasande, “, that’s, Alexa Friedman, Friedman, diisononyl, toxicologist Linda Birnbaum, ” Birnbaum, birthweight, DEHP, Trasande, ” Friedman, don’t, ” CNN’s Jen Christensen Organizations: CNN, NYU Langone Health, “, Environmental, American Chemistry Council, Product Safety, FDA, Food and Drug Administration, National Institute for Environmental Health Sciences, National Toxicology, National Institutes of Health’s, Child Health, Health, Mayo Clinic, American Academy of Pediatrics, AAP Locations: United States, European

☆ Peloton shares plunge as turnaround plan garners mixed results
▼ + stars: | 2024-02-01 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Peloton shares slid more than 20% Thursday after the fitness company said it expects to report another loss in the current quarter and is trimming its full-year revenue forecast, signaling that its several years-long turnaround is spinning out. CEO Barry McCarthy wrote in a letter to investors that some of his ideas have failed, including a push into selling Peloton bikes with college colors. McCarthy revealed that the company “sold substantially fewer bikes to alumni and boosters than we expected.” The short-lived program will be discontinued. He said the experience has “tarnished our brand” and that the busy holiday shipping season was “particularly taxing” for customers. The connected fitness company adjusted its full-year revenue lower from the previous $2.7 billion to $2.8 billion expected, with Peloton now forecasting it to be between $2.68 billion and $2.75 billion.

Persons: Barry McCarthy, McCarthy, Lululemon “, TikTok Organizations: New, New York CNN, Sporting Goods, Consumer Product Safety Locations: New York

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