Peloton's shares rose 2% to $8.40 in premarket trading.
Following the partnership, Peloton's products will be available in more than 100 Dick's Sporting Goods stores and also on its e-commerce platform, according to the statement.
The companies said the rollout is expected early in the holiday season.
Last month, Peloton struck a partnership with Amazon.com Inc to sell some of its fitness equipment on the online retailer's U.S. platform.
(Reporting by Aishwarya Nair in Bengaluru; Editing by Shounak Dasgupta)