By Scott Kanowsky
Investing.com -- Shares in Peloton Interactive, Inc. (NASDAQ: PTON ) fell on Thursday after the company announced that it will begin selling its exercise bikes, treadmills, and other fitness items at retailer Dick's Sporting Goods, Inc. (NYSE: DKS ) stores.
In a statement, Peloton said the move will help it expand its customer base. The company has recently seen sales wane as more people ditch their at-home equipment and return to gyms, following the relaxation of COVID-19 restrictions.
Dick's will become the first and only brick-and-mortar outlet, apart from Peloton's own sales channels, to sell the New York City-based firm's products.
"Peloton is a powerful brand with a very loyal following and a product mix that's compelling for any fitness enthusiast," said Will Swisher, senior vice president at Dick's. "Being able to offer Peloton to our athletes – and to provide an in-store experience for them to see and test products – gives us and Peloton extended reach into the fitness market."
The rollout is slated to start early in the holiday season, with Peloton's items set to be made available in more than 100 Dick's locations and on its e-commerce platform.
Shares in Dick's were in the red in early U.S. trading.
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