News Topics
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August 8, 2022
Life Time Leans On Pickleball in Post-Pandemic Push
Life Time Inc. opened its first pickleball-only destination in February, but the venue is just a small part of a growth strategy projected to bring the company $1.88 billion in revenue this year. The health club operator, known for its country club culture, is committed to becoming the largest indoor...
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August 5, 2022
Fox Factory announce 28.1% bike division sales boost in Q2
Q2 financial results from Fox Factory Holding Corp. today highlighted a sales increased 23.9% to $406.7 million, compared to $328.2 million in the same period last fiscal year. Gross profit increased 28.7% to $142.9 million, compared to $111.1 million in the same period last fiscal year. This increase reflects a...
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August 5, 2022
E-Bike Battery Explosion Kills 2 in New York Apartment Blaze
A 5-year-old girl and a 36-year-old woman died Wednesday from an apartment fire ignited by an exploding e-bike battery, the New York City Fire Department said. Another person — the girl’s father — was left in serious condition, and a firefighter was also taken to the hospital, CBS News reported....
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August 4, 2022
Adidas’ Operating Profit Plummets 28%, Faces Legal Battles
Adidas reported a 28% decline in second-quarter operating profit to $398.4 million due to suspending its business in Russia, pandemic-related lockdowns in China and Vietnam, and higher supply chain costs. The company was able to lock in a 4% increase in currency-neutral revenue. Net income fell to roughly $366.8 million...
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August 3, 2022
E-bikes Changing the Channels
The recent Eurobike event, held live in July in Frankfurt Germany, all but confirmed things: e-bikes are still booming and remain an opportunity. “This year you’d have been forgiven for thinking Eurobike was an e-bike show,” reported Will Jones for Cyclingnews. Inside Outdoor
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August 3, 2022
Tour De France Femmes Proves TV Hit As Viewing Figures Released
The eight stages captured, on average, a quarter of the French television audience, a total of 2.25 million viewers across the channels France 2 and France 3 and a total of 20 million people watching across the entire race. The peak was 5.1 million viewers, a 45.6% audience share, for...
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August 3, 2022
Driver who killed two cyclists during charity ride “didn’t understand severity” of incident, says prosecutor
A motorist who crashed into a group of cyclists taking part in a charity ride in Michigan, killing two and seriously injuring three others, failed to understand the severity of what had happened, a prosecutor has said. The five cyclists were taking part in the 35th edition of the Make-A-Wish...
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August 3, 2022
World Triathlon Executive Board approves Transgender Policy
World Triathlon’s Executive Board has approved the Transgender Policy, following a period of consultation with the Medical Committee, Athletes Committee, Coaches Committee, Legal & Constitution Committee, Women’s Committee and the Equality, Diversion & Inclusion Commission, as well as multiple experts in the field and the transgender community. Triathlon.org
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August 3, 2022
Under Armour cuts profit outlook for the full year as promotions eat into margins
Under Armour on Wednesday cut its profit forecast for the fiscal year 2023 as more promotions on its athletic apparel ate into margins. The company now expects earnings per share for the full year to come in between 61 cents and 67 cents, down from earlier guidance of between 79...
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August 2, 2022
‘Team Molly’ Parents Sue E-Bike Company Over Daughter’s Death
The parents of a girl who died after an e-bike accident filed a wrongful-death lawsuit Monday against the Seattle e-bike company Rad Power Bikes. In the suit, Kaye and Jonathan Steinsapir, the parents of Molly Steinsapir, who died last year at age 12, claim that flaws in the bike’s design...
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August 2, 2022
The Great Cooling Revolution in Endurance Sports
Studies show that reducing body temperature may improve performance even in relatively temperate conditions. We’ve known that physiology for a long time, but it wasn’t until recently that athletes started making cooling techniques a top priority. All around the world, in all different sports, there is something big happening. We...
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August 2, 2022
McLaren Steps into Sports Apparel with $450 Sneakers
McLaren is tapping into the fashion market with the debut of its first athletic footwear line, HySpeed. The British luxury carmaker is entering the $3 trillion fashion market to expand its reach and attract more consumers behind the growing popularity of its Formula 1 racing team. FOS
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August 2, 2022
Porsche eBike Performance GmbH launches into cycling market
If there were any remaining doubt about how serious performance vehicle manufacturer Porsche is about eMobility, that has been officially ended with the launch of Porsche eBike Performance GmbH. The car maker announced it, “wants to increase its activities in the eBike segment. To this end, two joint ventures founded...
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August 2, 2022
The Space Force is scrapping the annual fitness test in favor of wearable trackers
U.S. Space Force leadership says the approach will prioritize the general wellness of service members beyond just one physical assessment each year. The annual tests have spurred eating disorder symptoms and other unhealthy behaviors in some military members. npr
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August 1, 2022
Pepsi to pay US$550m for 8.5% stake in fitness-drink maker Celsius
PEPSI will pay US$550 million for a stake in fitness-energy drink maker Celsius Holdings as part of a long-term strategic distribution agreement. Pepsi is getting convertible preferred stock equating to 8.5 per cent ownership in Celsius, the companies said on Monday (Aug 1) in a statement. The soft drink giant...
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July 31, 2022
Commonwealth Games cycling is ABANDONED after a second horrifying crash that saw one rider fly over the barrier and into the crowd leaving three athletes HOSPITALISED and spectators treated at the scene
Cycling at the Commonwealth Games was struck by another horrifying crash on Sunday afternoon that saw England's Matt Walls catapulted over the barrier into the crowd, leaving athletes and spectators requiring urgent medical attention. In the second qualifying heat of the men's 15km scratch qualifying, there was a multi-rider crash...
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July 29, 2022
LeBron James’ investment group invests $30M in Canyon Bicycles
Canyon Bicycles announced that two investment groups have taken strategic equity investments totaling $30 million in the Germany-based company. One of the groups, LRMR Ventures, is the investment group of basketball star LeBron James and James' longtime friend and business partner Maverick Carter. The other new investor is SC Holdings, which...
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July 29, 2022
F45 Training Shares Tumble as CEO Quits, Wahlberg Sells
Australian fitness class company F45 Training saw shares plummet more than 60% this week following the departure of chief executive and co-founder Adam Gilchrist. Gilchrist relinquishing his role as CEO comes amid a strategic reorganization by F45 to adhere to “changing macroeconomic and business conditions.” The reorganization also cut 110 jobs at the...
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July 29, 2022
Kaitlin Armstrong’s medical records subpoenaed by prosecutors in cycling pro Mo Wilson murder case
Texas authorities are looking into medical records of Austin murder suspect and former fugitive Kaitlin Armstrong, who is accused of shooting the pro cyclist Anna Moriah ‘Mo’ Wilson. Prosecutors applied for a subpoena seeking Armstrong’s medical records from St. Joseph Medical Center in Houston, where she was taken just days after her...
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July 28, 2022
UCI suspends continental team’s licence due to doping investigation
The sanction has been imposed in response to information received by the UCI from the Portuguese Anti-Doping Authority, which is conducting the doping investigation. Consequently, W52-FC Porto cannot compete in races, and will therefore miss the Volta a Portugal next month - a race the team has won every year...
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July 28, 2022
Xponential Fitness Sees Strong Growth In Second Quarter
Xponential Fitness Inc., franchisor of boutique fitness brands, provided second quarter 2022 operating highlights, including same-store growth of 25 percent. Xponential Fitness’ portfolio of brands includes Club Pilates, CycleBar, StretchLab, Row House, AKT, YogaSix, Pure Barre, Stride, Rumble and BFT. SGB
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July 27, 2022
Garmin Q2 Sales Dragged Down By Weakness In Fitness Wearables
Garmin, Ltd. reported sales declined 6 percent in the second quarter ended June 25, pulled down by a 34 percent drop in the fitness segment. Garmin reduced its guidance for the year, with earnings being impacted by the strengthening of the U.S. dollar, high inflation, and rising interest rates. SGB...
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July 26, 2022
Sidi Sports bought by Italmobiliare for € 66 million
Sidi Sports, makers of cycling shoes worn by multiple cycling champions across CX, road, MTB and track, have been acquired by one of Italy’s leading investment holding companies. Italmobiliare manages a diversified portfolio of investments with a Net Asset Value of more than 2 billion euro. The business reports that the...
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July 26, 2022
Adidas Slashes Outlook for Q2, Citing Slow Recovery in Greater China
The German sportswear brand on Tuesday said its recovery in Greater China has been slower than it expected since Q3 began, due to persisting Covid-19 restrictions. As such, Adidas said it expects revenues in Greater China to decline at a double-digit rate through 2022. Footwear News
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July 26, 2022
Skechers Credits Wholesale Growth for Record Q2 Sales
The Los Angeles-based footwear brand reported on Tuesday that it reached $1.87 billion in sales in Q2, a 12.4% increase from the same time last year. According to Skechers COO David Weinberg, the growth was the result of a 15.4% increase in domestic sales and a 10.0% increase in international...
