Peloton Store Spins Out Of Westport

WESTPORT, CT — Exercise equipment company Peloton, which, according to CNBC, announced plans last August that it would close stores in 2023, recently closed its Westport and Farmington stores, the company's last two stores in Connecticut.

The Farmington store, which was in Westfarms Mall, was shuttered on Dec. 31. When the Westport store, at 58 Main St., was closed is not known, but it was empty on Thursday.

Both Connecticut stores opened in 2018.

According to The Hour, Peloton announced on Wednesday that it lost $335 million in its second quarter, which no doubt contributed to the closures.

Patch reached out to Peloton for comment, and while a spokesperson confirmed the closures, she referred to The Hour story for information.

"Unfortunately we don't have any other details to share at this time," the spokesperson said.

During the first year of the coronavirus pandemic, when scores of exercisers were forced to stay home and out of gyms, Peloton's fortunes soared.

But once people began to emerge from their pandemic cocoons and return to gyms and other activities, the company saw its sales, subscriptions and stock price plummet.

On Feb. 1, 2021, for example, Peloton's stock price closed at $146.79 per share. Fast-forward to Wednesday, and the stock price closed at $16.36.

Read The Hour story.