News Topics
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December 22, 2023
Nike Aims to Save $2B Over Three Years With New Plan to ‘Streamline’ Organization
Nike on Thursday announced new measures to “streamline” its organization after reporting a profit beat for the second quarter. The athletic giant said in a release that it sees the potential to save up to $2 billion, although these measures involve layoffs. Nike said it could see pre-tax restructuring charges...
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December 21, 2023
Compass Diversified Receives $75.2 Million Equity Investment
Compass Diversified (CODI), owner of Velocity Outdoor, BOA, Primaloft, 5.11, and other active lifestyle brands, reported that it had completed a private placement of approximately 3.6 million of its common shares to a mutual fund managed by Allspring Global Investments to raise $75.2 million. The shares were sold for $21.18...
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December 20, 2023
2 accused of robbing Lance Armstrong’s storage unit; over $100K in bikes stolen
Two Austin men are accused of stealing more than $100,000 of high-end bicycles and parts from the storage unit of seven-time Tour de France winner Lance Armstrong, according to arrest affidavits. Police allege Shaun Thompson, 36, and Ethan Harms, 33, burglarized Armstrong’s ExtraSpace Storage Unit and took four Trek road...
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December 20, 2023
Sports tech industry investments reach US$10.1 billion during Q3 2023
The global sports technology industry generated US$10.1 billion worth of deals during the third quarter of 2023, according to research from Drake Star Partners, which recorded 317 transactions during the three-month period. The quarterly study does take into account deals which include technology elements or are sports technology adjacent. For...
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December 20, 2023
The Most Innovative Fitness & Wellness Companies of 2023
Athletech News presents its list of The Most Innovative Fitness & Wellness Companies of 2023. The list serves as the ultimate authority in recognizing the organizations that are revolutionizing fitness and wellness and, by extension, positively influencing society. Athletechnews
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December 20, 2023
The Fastest and Slowest 70.3 Races of 2023
70.3s boomed from 74 races last year to 122 this year. Did any of the new races make it into the top fastest or top slowest of the 70.3 landscape? Triathlete dives into the data. Triathlete
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December 19, 2023
Nike Sues Sneaker Reseller For Allegedly Running ‘Organized Counterfeit Trafficking Community’
Nike is coming after a sneaker reseller that it claims sells fake Swoosh-branded shoes. The lawsuit describes Fox as the “ringleader of an organized counterfeit trafficking community” on messaging platform Discord that assists members in purchasing counterfeit goods. Nike also accused Fox of selling his wares via a website launched...
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December 18, 2023
Wolverine Transforming Saucony and Merrell Model in China
Wolverine World Wide, Inc. said it plans to shift its Merrell and Saucony businesses in China from a joint venture model with Xtep to a license and distribution rights model. It also agreed it sell its Asia-based Wolverine Leathers business. Both actions are expected to simplify Wolvderine’s business model and...
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December 18, 2023
Running will keep your memory sharp and help prevent Alzheimer’s, new research shows
Your run is more than a workout for your muscles–it’s keeping your brain healthy, as well. Researchers out of the University of Zurich have unraveled the protective effects of physical and social activities on the brain health of older adults, as reported in Neuroscience News. While we often celebrate the cardiovascular...
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December 16, 2023
Organizers of ultramarathon in which 21 runners died jailed in China
Organisers of a 2021 ultramarathon in north-west China during which 21 runners died in extreme weather conditions have been sentenced to years in prison for their roles, state media reported. Five individuals involved in planning the ill-fated event were given jail terms ranging from three to five and a half years by...
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