Peloton to sell high-end exercise bikes at certain Costco stores

(Reuters) - Peloton plans to sell its high-end exercise bikes at some of Costco's U.S. stores and on the retailer's website between Nov. 1 and Feb. 15, the companies said on Tuesday.

Peloton's Bike+ will be available for $1,999 at 300 of the retailer's stores, and for $2,199 on Costco.com, compared with the usual price of $2,495.

The fitness equipment maker is in the middle of a turnaround plan and in August posted its first sales increase in nine quarters.

Peloton has faced weakening demand for its high-end, at-home equipment following a boom during the pandemic as customers cut back on discretionary spending amid elevated interest rates and sticky inflation.

(Reporting by Savyata Mishra in Bengaluru; Editing by Shounak Dasgupta)