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    • Peloton stock plunges after 20,000 members canceled subscriptions while waiting for recall

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    A Peloton recall involving the adjustable seat on more than two million bikes is becoming a bigger headache than expected.

    Shares of the fitness company plummeted 20% in early trading Wednesday after another dismal earnings report that revealed the recall’s price tag “substantially exceeded†Peloton’s expectations, costing the company $40 million and about 20,000 members who paused their monthly subscriptions because they were waiting for a replacement seat post.

    In May, Peloton told owners of its PL-01 Bike to stop using the model because of a safety hazard that could result in the seat breaking during use. Peloton said Wednesday that it has received 750,000 requests for new seat posts, which the company said was “more than we expected.â€

    So far, only about half of those requests were fulfilled, and the company expects to complete the remainder by the end of September — three months sooner than it originally told members.

    Peloton (PTON) said its fourth-quarter results are a “reminder we operate a seasonal business,†as it braced investors for a bigger-than-expected loss of $242 million and sales dropping to $642 million, down from $679 million a year earlier.

    “The slowdown exceeded our expectations through May and through the first three weeks of June as consumer spending shifted toward travel and experiences,†CEO Barry McCarthy said in a letter to investors. “Then eight weeks ago the trend reversed itself, and we began to see a reacceleration in hardware sales.â€

    McCarthy joined the once-hot company in 2022 and has made a number of changes to restore its early pandemic success, implementing layoffs and store closures, while giving the Peloton app a brand refresh and new pricing tiers. Shares of the company are down 30% year to date.

    CTVNews.ca Top Stories

    Timmins-James Bay MP Charlie Angus was among approximately 120 people who gathered Sunday night for a candlelight vigil near the scene of a vicious attack against a 16-year-old in Cobalt.

    A Brampton woman says she is devastated after she lost more than $200,000 — her life's savings — to a romance scam.

    As Toronto readies for Taylor Swift’s arrival this week, some crowd management and planning experts say additional safety precautions should be taken when tens of thousands of fans fill the city's downtown core on show nights.

    Canada

    • Police say multiple people were arrested and firearms were seized after an unmarked police cruiser was struck by gunfire in Toronto’s West Queen West neighbourhood late Monday night.

    • A 36-year-old Montreal man who was out on bail after allegedly uttering death threats against his partner is now accused of murdering her on the South Shore.

    • A Brampton woman says she is devastated after she lost more than $200,000 — her life's savings — to a romance scam.

    • Family members and friends of a 43-year-old man who was fatally shot by police in Hamilton over the weekend says they’re devastated by his death and are seeking answers and justice for their loved one.

    • Dr. Ronald Weiss, who performed nearly 60,000 vasectomies on Ottawa men, establishing him as the "Wayne Gretzky" of the procedure, has died.

    • A B.C. woman who stole more than $14,000 in volunteer-raised funds that were supposed to be spent on school supplies and programs – including hot meals for vulnerable kids – won't spend any time in jail.

    World

    Politics

    • Murray Sinclair’s family members say the late justice and senator has been laid to rest according to his wishes.

    • Prime Minister Justin Trudeau announced voters in Cloverdale—Langley City will pick their next member of Parliament on Dec. 16.

    Health

    Sci-Tech

    Entertainment

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    Lifestyle

    Sports

    • The Toronto Maple Leafs have placed forward Max Pacioretty on the injured reserve with a lower-body injury, the team announced Monday.

    • Canada will be without captain Alphonso Davies for its upcoming CONCACAF Nations League quarterfinal against Suriname.

    Autos

    Local Spotlight

    For the second year in a row, the ‘Gift-a-Family’ campaign is hoping to make the holidays happier for children and families in need throughout Barrie.

    Some of the most prolific photographers behind CTV Skywatch Pics of the Day use the medium for fun, therapy, and connection.

    A young family from Codroy Valley, N.L., is happy to be on land and resting with their newborn daughter, Miley, after an overwhelming, yet exciting experience at sea.

    As Connor Nijsse prepared to remove some old drywall during his garage renovation, he feared the worst.

    A group of women in Chester, N.S., has been busy on the weekends making quilts – not for themselves, but for those in need.

    A Vancouver artist whose streetside singing led to a chance encounter with one of the world's biggest musicians is encouraging aspiring performers to try their hand at busking.

    Ten-thousand hand-knit poppies were taken from the Sanctuary Arts Centre and displayed on the fence surrounding the Dartmouth Cenotaph on Monday.

    A Vancouver man is saying goodbye to his nine-to-five and embarking on a road trip from the Canadian Arctic to Antarctica.

    • Flames shot out of windows and debris came showering down onto the street as crews battled a fire at a North Vancouver highrise Monday afternoon.

    • Second World War veteran Percival Smith was a teenager when he entered the British Merchant Navy, but after years at sea he emerged as a man who returned to a family he "couldn't even recognize" after the war.

    • Police nabbed an alarming number of drunk or drug-impaired drivers in Abbotsford, B.C., over the long weekend – including 11 on Friday night alone.

    • As Toronto readies for Taylor Swift’s arrival this week, some crowd management and planning experts say additional safety precautions should be taken when tens of thousands of fans fill the city's downtown core on show nights.

    • Police say multiple people were arrested and firearms were seized after an unmarked police cruiser was struck by gunfire in Toronto’s West Queen West neighbourhood late Monday night.

    • A Brampton woman says she is devastated after she lost more than $200,000 — her life's savings — to a romance scam.

    • A coalition of community groups is calling on Ottawa City Council to raise property taxes "to a level that sustains existing services and infrastructure," increase parking fees, and invest in transit, community services and climate action in its 2025 budget.

    • Dr. Ronald Weiss, who performed nearly 60,000 vasectomies on Ottawa men, establishing him as the "Wayne Gretzky" of the procedure, has died.

    • A 36-year-old Montreal man who was out on bail after allegedly uttering death threats against his partner is now accused of murdering her on the South Shore.

    • Several international flights scheduled to land at Montreal-Trudeau International Airport had to be diverted due to the discovery of a 'package of interest.'

    • Nova Scotia's political party leaders will return to the election campaign trail Tuesday after taking Monday off for Remembrance Day.

    • New Brunswick Premier Susan Holt will meet with Prime Minister Justin Trudeau Tuesday in Fredericton.

    • A weeklong closure of Portage Avenue East is set to begin Tuesday to allow for pre-construction traffic signal work at Portage and Main.

    • A sacred fire burning in Winnipeg has brought healing and hope to some members of Xavia Skye Lynn Butler’s family.

    • November 11th marks a solemn day across Canada, and Regina is no exception.

    • Fire crews reported that no one was hurt after flames broke out in a home on Robinson Street in central Regina.

    • Regina author Valerie Crowther is celebrating the release of her book ‘War Letters: Linking Lives in the Second World War.’

    • A team of tornado experts are investigating a path of damage through Wellington County.

    • A 15-year-old boy from Kitchener, Ont. is facing a long list of criminal charges as the Waterloo Regional Police Service wraps up a lengthy swatting investigation.

    • Family members and friends of a 43-year-old man who was fatally shot by police in Hamilton over the weekend says they’re devastated by his death and are seeking answers and justice for their loved one.

    • Saskatoon Public Library workers will be on strike Tuesday as part of ongoing contract negotiations with SPL.

    • Saskatchewan RCMP are searching for a suspect after a man was seriously injured in a farm-related incident in Montreal Lake.

    • It was a somber day at Mosaic Stadium as members of the Saskatchewan Roughriders officially cleaned out their stalls and closed the book on the 2024 season.

    • Failing to comply with a property standards order issued by city hall could add almost $100,000 to the tax bill of a prominent eyesore in east London.

    • Changes proposed to the city’s Special Events By-law would allow outdoor concerts and music festivals to play later – but not louder.

    • According to police, the crash also resulted in a hydro pole being broken and damaging lines.

    • Fire crews were called to an early-morning fire at recycling depot on John Street.

    • A Barrie man is accused of being at the centre of an alleged $2.2 million stolen used car scheme.

    • Barrie Mayor Alex Nuttall is acting unilaterally for one of the only times of his tenure thus far to help ensure a renovation project of a youth shelter gets completed.

    • Rumors began spreading this morning that the school’s annual Winter Walkthrough in December was being postponed until January.

    • A pair of thieves ripped the door of an east Windsor sports apparel store on Monday morning, leaving the store owner on the hook for thousands in stolen merchandise.

    • video

      video

      After a Canada Border Services Agency (CBSA) worker took their own life while on shift at the Ambassador Bridge Saturday, Â鶹´«Ã½ Public Safety Analyst Chris Lewis highlighted the mental health burdens faced daily by law enforcement.

    • A B.C. woman who stole more than $14,000 in volunteer-raised funds that were supposed to be spent on school supplies and programs – including hot meals for vulnerable kids – won't spend any time in jail.

    • A B.C. teen has a suspected case of H5N1 avian flu — the first known human to acquire the virus in Canada.

    • Second World War veteran Percival Smith was a teenager when he entered the British Merchant Navy, but after years at sea he emerged as a man who returned to a family he "couldn't even recognize" after the war.

    • A B.C. woman who stole more than $14,000 in volunteer-raised funds that were supposed to be spent on school supplies and programs – including hot meals for vulnerable kids – won't spend any time in jail.

    • The emergency department at South Okanagan General Hospital in Oliver, B.C., will be closed for 31 hours this weekend, the second such closure in a week and the third since the start of November.

    • Police in Kamloops, B.C., are reminding parents and guardians to check their children's Halloween candy after receiving a report of a mother finding a razor blade in one of her daughter's treats.

    • If you were at the cenotaph Remembrance Day ceremonies in Lethbridge, you may have caught a glimpse of our Dory Rossiter there on crutches.

    • Canadians across the country spent Monday paying tribute to the soldiers who have fought and died while serving Canada.

    • The Southern Alberta Recreation Association is officially announcing the Town of Taber as next year’s host for the Southern Alberta Summer Games.

    • Remembrance Day celebrations took place across the country Monday, with Canadians reflecting on the sacrifices made by the men and women who served our country.

    • Timmins-James Bay MP Charlie Angus was among approximately 120 people who gathered Sunday night for a candlelight vigil near the scene of a vicious attack against a 16-year-old in Cobalt.

    • It was just days before the COVID-19 pandemic shut the world down when the Shaft Bottom Boys of Sudbury broke a world record for 'Deepest Concert Underground.' Now, more than four years later, a Timmins band is looking to take the title.

    N.L.

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