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Peloton boosts staff pay, retailers tell shoppers to keep returns, penguins reject cheap fish at aquarium

Yahoo Finance's Brad Smith and Brian Sozzi discuss three other trending news stories today.

Video Transcript


- Welcome back to "Yahoo Finance Live," everyone. Peloton is offering a variety of new incentives to keep employees as it looks to turn around the company. The fitness bike-maker is changing its stock compensation plan for eligible workers and granting cash bonuses for hourly workers. Peloton shares Tuesday, they hit an all-time low after trading at an all-time high almost exactly one year ago. And that is the ride that it has been on, Sozz, as you're seeing over that period of time, or at least here today. It's holding onto gains of about 3.4% over that max period down by about 58%.


And, I mean, it's as there is a moral issue within the company, whether it's the jobs that have already been cut, whether it's the different products as well that have faced their own scrutiny over the past couple of years. I think that this is a good move, but it also did come just after they had already announced some of those cost reductions that they were looking at across the board.

- Yeah, I think you're starting to see the first efforts or the fingerprints of new Peloton CEO, Barry McCarthy. The first one was getting, I believe, a new CFO in there and now this trying to after to boost employment. That was a quick buzzer. That was a quick buzzer.

- That was my fault. I went long.

- Morale, I am sure you will probably see more executive changes there in the coming weeks and months. All right. As for me, I'm looking at a good story from our very own Dani Romero on returnless refunds at retailers. Danny goes at length in the stories on the Yahoo Finance homepage right now.

Goes at length looking at retailers like Target, essentially saying to consumers if this product that you bought isn't working for you, don't send it back, just keep it. And that is really a reflection of retailers realizing it's just too expensive to have a consumer ship that product back, and then they have to handle it. You do not want to be doing that if you're a retailer, already sitting on a lot of inventory and dealing with high inflationary costs for logistics. But, Brad, they do tote a fine line because I can say, hey, I don't like this $150 or $500 computer, and maybe I'll get to keep it.

- Yeah. That's true. I mean, this is bad news if you're Kohl's, if Amazon decides to move forward with a process like this because the entire thing for Kohl's, getting more people in the store was yeah.

- Nobody's shopping at Kohl's. This doesn't apply to them, Brad.

- No? Not at all.

- Not at all.

- All right. Done deal. Well, I think at the end of the day, it's really just going to be how the consumers are looking across the items that they purchase and if they find value in it. And that's an incentive right now, value incentive.

- Someone's too quick on the buzzer today, just saying.

- We're close to the end. That's what they're doing.

- And we're doing the penguins, let's just make it a hard turn from talking critically about clothes to penguins. And there you see, if you're looking for a real recession sign, penguins and otters are rejecting cheaper fish as Japanese Aquarium faces inflation. And Brad, this is blowing up. I was on WallStreetBets, and they're using this now on memes.

But good for the penguins and otters to be speaking out here. Again, getting a cheaper product. They deserve the best, Brad. They should not be having to be forced down to cheaper products So their master could be making higher profits. Good for the penguins.

- Loko, the penguins, no good sush when they smell it. And so do the otters as well. So they got to get their keep as well. I wonder if this is impacting Disney at all. I mean, they've got the parks and resorts, they've got what within the Magic Kingdom, they've got, of course, the Animal Kingdom. Thank you for hopping in my ear and reminding me of that. They got the Animal Kingdom.

- And SeaWorld. I'm curious if SeaWorld is feeding cheaper fish too. They're big giant fish. But penguins, otters, whales, they give us so much enjoyment in our life and on social media. Pay more, give them better fish than they have been eating for the past 20 years. Better fish.

- Absolutely. I agree with that wholeheartedly. Everyone, we got to leave things there. We hope the penguins get better quality, as well as those otters and the whales as well. Treat the whales better.