News Topics
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August 14, 2022
Xponential Fitness Generates $60M in Q2 Revenue
Xponential Fitness - the largest boutique fitness franchiser in the U.S. with 2,357 studios - generated $59.6 million in revenue in Q2 — a 66% increase year-over-year. Net income reached $31.5 million in Q2, compared to a net loss of $8 million. The company sold 251 franchise licenses and opened...
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August 13, 2022
SoulCycle to hit brakes on nearly 25% of its locations
The once-hot exercise chain is closing 20 of its 82 studio locations nationwide within the next few weeks. The privately-run company, owned by Equinox Group, will shutter four New York City locations – in Midtown, Soho, West 92nd St. and Park Slope, Brooklyn — along with a Hamptons outpost in Water...
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August 12, 2022
Peloton to cut nearly 800 jobs, raise prices amid declining sales
Peloton will embark on a sweeping overhaul that includes cutting nearly 800 jobs, raising prices for its Bike Plus and Tread machines, and outsourcing functions such as equipment deliveries and customer service to outside companies. The changes, which the company disclosed Friday in a memo to employees, also includes gradually...
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August 12, 2022
Peloton must face lawsuit claiming it misled over “ever-growing” classes, judge rules
The class-action lawsuit was filed on behalf of customers who were angered by the company's decision to cut its number of exercise classes while continuing to market its service as offering an "ever-growing" library of classes. The lawsuit was filed in 2019 by the National Music Publishers Association over its alleged...
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August 12, 2022
Why Nike Is Closing Offices Around the World Next Week
Nike is again closing its global offices next week to encourage employee well-being, a move the company first announced in May. To encourage employees to enjoy some R&R and sunshine with their families, the global offices will be closed for Well-Being Week, so teammates could unplug — without worrying about...
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August 12, 2022
Cadence Performance acquires Evernden Cycles, soon to be a Giant brand store
Cadence Performance has announced the acquisition of Evernden Cycles in Kent, taking the firm’s retail portfolio to six branches. With Evernden Cycles’ owner retiring, the third-generation family business passes the torch after more than 70 years trading. Trading as Cadence initially, the store will transition to a Giant Brand Store by...
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August 11, 2022
Brooks Running Sees Double-Digit Growth In Q2
Brooks Running reported sales grew 11 percent year-over-year in the second quarter. The Seattle-based running brand said that for the second consecutive quarter, it held the top spot in the U.S. adult performance running footwear market with a 21 percent market share based on revenue, according to The NPD Group. Brooks...
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August 11, 2022
Science Shows You Can Go Farther and Faster with Music
A new study in the Journal of Human Kinetics showed that listening to music during a running time trial led to a 10% increase in total distance covered, as well as a 14% increase in speed. There was also evidence of 8% lower blood lactate concentration in those who listened to...
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August 11, 2022
Zwift’s future direction: A doubling-down on project innovation and, eventually, VR headsets and AR
His answers are deliberately vague but Zwift CEO Eric Min has hinted at the future directions the company and the platform may take, including new product innovation and, in a matter of years, the possibility of virtual and augmented reality enhancing the riding experience. Velo News
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August 10, 2022
Life Time’s Q2 2022 Results Show Slow and Steady Growth Amidst Economic Headwinds
Total revenue increased 42.7% to $461.3 million in second quarter 2022 for Life Time Group Holdings, Inc., Chanhassen, Minnesota, leading to an upbeat albeit realistic tone in its earnings conference call on Aug. 10. Club Industry News
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August 10, 2022
Victoria Brumfield confirmed as USA Triathlon’s interim CEO
Following the departure of USA Triathlon (USAT) CEO Rocky Harris for a role at the United States Olympic & Paralympic Committee (USOPC), the US national governing body for triathlon has confirmed Victoria Brumfield as USA Triathlon’s interim CEO. Rocky Harris will join the USOPC in early September. Based in Colorado...
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August 9, 2022
Garmin Enduro 2 ultraperformance smartwatch adds mapping, touchscreen and its longest-ever battery life
OLATHE, Kan., August 09, 2022 - Garmin International, Inc., a unit of Garmin Ltd. (NYSE: GRMN), today announced the Enduro™ 2 ultraperformance multisport GPS smartwatch. Purpose built for endurance athletes, the rugged yet lightweight Enduro 2 includes built-in TopoActive maps with multicontinent coverage, a superbright LED flashlight and Garmin’s exclusive SatIQ™ technology to...
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August 9, 2022
Wahoo unveils sports science facility in Boulder
Wahoo has been steadily growing over the years, unveiling a string of popular trainers, bike computers, pedals, and more. The next step in creating better products for the Atlanta-based brand is a sports science facility, announced today, in outdoor and fitness hotbed Boulder, Colorado, called the Sports Science Center. Velo News
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August 9, 2022
Planet Fitness Sees Q2 Same-Store Sales Jump 13.6 Percent
Planet Fitness, Inc. reported earnings bounced back in the second quarter ended June 30 as system-wide same-store sales increased 13.6 percent. SGB Media
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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 8, 2022
Are gravel races too challenging to broadcast?
When Life Time launched its Grand Prix series in the spring, it not only formalized a calendar for off-road and gravel cyclists and gave them an enticing $250,000 prize purse to compete for, more importantly, Life Time gave fans a season cast of 60 hand-selected diverse competitors to follow and...
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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...
