Peloton to relaunch treadmill with safety features

Fitness company Peloton is taking a step toward restoring its brand reputation.

The company on Tuesday said it would launch its new treadmill next week, as it looks to put behind a costly recall of its older models over safety reasons.

The U.S. launch of the treadmill, called Tread, was initially scheduled for May 27, but was delayed as the company said it was working with the U.S. Consumer Product Safety Commission to build an extra layer of safety features.

Those include a digital passcode to unlock the main running belt before a workout and a physical safety key that can help runners come to a quicker stop.

Peloton had stopped sales of its treadmills in all markets and announced a recall in May following reports of multiple injuries and the death of a child in an accident.

The company had been a darling during the early days of the health crisis as fitness enthusiasts snapped up its gear and digital subscriptions to work out at home, but gyms have since reopened and it remains to be seen if Peloton can keep up the sales growth it saw last year.

Analysts are also still worried about the financial and reputational costs of the treadmill recall.

Peloton shares have plunged roughly 40 percent so far this year, though the news of the treadmill re-launch did give the stock a bounce in Tuesday trading.

Priced at roughly $2,500, the new treadmill will be available in the U.S., Canada and the United Kingdom beginning Aug. 30th.

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