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After a child died in a Peloton treadmill accident, US lawmakers push for new product recall powers
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After a child died in a Peloton treadmill accident, US lawmakers push for new product recall powers
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Shares of Peloton Interactive were down about 9 percent in mid-day trading Monday after the U.S. Consumer Product Safety Commission (CPSC), in an unusual move, warned people to stop using the company’s Tread+ “immediately” if they have children or pets in the home, citing 39 incidents including one death. Peloton called the warning “inaccurate and misleading” but some analysts felt the heightened safety concerns could slow subscriber growth.
The warning comes after Peloton, on March 19, released news of a child’s death by a $4,000 Tread+ and CPSC’s announcement of an investigation into that incident.
The agency’s warning is another blow for the once high-flying company that has also recently seen its staggering growth capped by inventory constraints for its popular connected bikes amid the pandemic. The constraints have led to long wait times for customers.
Graco Recalls Infant Inclined Sleepers Rachel Rabkin Peachman
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Graco today recalled about 51,000 infant inclined sleepers because infant deaths have been tied to other, similar inclined sleep products, according to an announcement from the Consumer Product Safety Commission.
Today’s recall involves inclined sleepers sold as accessories that can stand alone or attach to the following play yards: the Pack ’n Play Day2Dream Playard With Bedside Sleeper, Graco Pack ’n Play Nuzzle Nest Playard, Graco Pack ’n Play Everest Playard, and Graco Pack ’n Play Rock ’n Grow Playard.