BODY - Peloton leads down day for fitness stocks on concerns consumers may pull back on spending

Fitness stocks traded lower on Monday in what appears to be some concerns around consumer discretionary spending in the sector as the calendar turns to the summer. Peloton Interactive (NASDAQ:PTON) -8.95%, The Beachbody Company (BODY) -5.28%, F45 Training Holdings (FXLV) -3.50%, Life Time Group Holdings (LTH) -2.88%, Xponential Fitness (XPOF) -2.85%, Planet Fitness (PLNT) -1.92%, and Nautilus (NLS) -1.55% all were underperformers in early trading on Monday in comparison to the broad market. What's going on? Walmart and Target rocked the retail sector in general last week with their earnings reports and conference calls, which were interpreted as a potential turning point indicating that consumers are feeling macro pressures and pushing back on higher pricing. In general, fitness stocks have correlated strongly to forecasts on consumer spending, although the pandemic has disrupted the group from trading in tandem with some stay-at-home names running counter to going-out stocks. The group has also

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Peloton leads down day for fitness stocks on concerns consumers may pull back on spending