News Topics
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November 9, 2023
Wolverine Sees New Round of Layoffs as It Looks to Further ‘Streamline’
Wolverine Worldwide is accelerating its transformation plan as it looks to “streamline” the organization. As part of this plan, the Rockford, Mich.-based footwear company on Thursday revealed a new global workforce reduction and organizational redesign. While Wolverine has not disclosed the number of employees affected by this move, the company...
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November 9, 2023
Can Specialty Run Handle More Competition? Is the ‘Super Shoe’ Here to Stay? + More Burning Questions for the Running Market
The running market continues to be the hot spot in athletic footwear, and everyone wants a piece of it. For instance, Nike, which had been prioritizing its direct-to-consumer channels, renewed its partnerships with non-athletic retailers Macy’s and DSW earlier this year. And Hoka — FN’s Brand of the Year and...
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November 8, 2023
Adidas Ekes Out Growth in Q3 on Gains in all Regions Except North America
Adidas posted a 1 percent increase in currency-neutral (c-n) revenues in the third quarter of 2023. The company said the top-line development reflected the company’s conservative sell-in approach aimed at reducing high inventory levels, improved sell-through as well as the company’s focus on full-price sales across its own channels. In...
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November 8, 2023
Running may boost inflammation-fighting cells that enhance performance, study finds
A new study reported in The Harvard Gazette has shed more light on how exercise helps the body boost its ability to fight inflammation, which in turn improves performance. The study, done in mice, suggests the possible role of the exercise in both reducing inflammation and improving performance. Exercise triggers...
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November 7, 2023
Future of Tour of Britain in doubt after British Cycling ends deal with race organiser
The future of the Tour of Britain is in serious doubt after British Cycling withdrew from a deal with race promoter Sweetspot, with the termination reportedly centering around allegations that the company owes around £700,000 in race licence rights fees. The dispute means that the UK's biggest professional bike race could be...
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November 2, 2023
Peloton reports wider-than-expected loss, ‘bad news’ on paid subscriptions
Peloton’s sales during its fiscal first quarter were higher than expected but its losses underperformed Wall Street’s expectations. The connected fitness company, known for its pricey Bike and Bike+, is struggling to convert new users into paid subscribers. For its holiday quarter, Peloton is expecting revenue of between $715 million...
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November 2, 2023
Kaitlin Armstrong Day 2: Testimony surrounds gathering evidence at murder scene
Prosecutors will call more witnesses Thursday in the murder trial for Kaitlin Armstrong, who’s accused of shooting and killing pro cyclist Anna Moriah “Mo” Wilson in May 2022. kxan
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November 2, 2023
Brain tissue may be fuel for marathon runners
Marathon runners appear to rely on myelin, the fatty tissue bundled around nerve fibers, for energy during a race, scientists report October 10 in a paper posted at bioRxiv.org. In the day or two following a marathon, this tissue seems to dwindle drastically, brain scans of runners reveal. Two weeks...
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November 1, 2023
New research suggests even 22-minute runs can help you live longer
Running for less than 30 minutes a day may not be enough to help you win a marathon, but that doesn’t mean it’s not beneficial to your health. Recent research suggests engaging in just 22 minutes of moderate to vigorous physical activity (such as easy running) can help counterbalance the...
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November 1, 2023
Vista Outdoor Reports Second Quarter FY24 Financial Results
Vista Outdoor Inc. reported financial results for the second quarter of Fiscal Year 2024 (FY24), which ended on September 24, 2023. Sales decreased $105 million to $677 million, down 13 percent, driven by lower shipments across nearly all categories in the Sporting Products segment. Gross profit declined 21 percent to $209...
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November 1, 2023
Garmin Lifts Outlook On Q3 Beat
Garmin, Ltd. raised its guidance for the year as third-quarter results topped expectations. Among segments, fitness sales grew 26 and Outdoor advanced 7 percent while Marine declined 7 percent. Highlights for the third quarter 2023 include: Consolidated revenue of $1.28 billion, a 12 increase compared to the prior year quarter...
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November 1, 2023
Brooks Running Eyes Return to Double-Digit Growth In 2024
Brooks Running’s global revenue grew 5 percent in the first nine months of 2023, with North America revenue increasing 7 percent. The Seattle, WA-based running brand, owned by Berkshire Hathaway, reported it remains the leading running footwear brand across U.S. retail and forecasted a return to double-digit growth in 2024....
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November 1, 2023
Day one of the Kaitlin Armstrong murder trial wraps up
The murder trial for Kaitlin Armstrong began Wednesday at 9 a.m. Armstrong is accused of shooting and killing up-and-coming professional cyclist Anna Moriah “Mo” Wilson in May 2022. Even though cameras are not allowed inside during testimony, KXAN’s Brianna Hollis will be inside the courtroom and will update this story...
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November 1, 2023
How Brooks Plans to Achieve Double-Digit Growth in 2024 As the Running Market Heats Up
While other running brands such as Hoka and On have been generating big buzz, Brooks continues to show solid gains. As of the third quarter, Brooks’ global revenue grew 5 percent year-to-date, with North America revenues increasing 7 percent. Internationally, Brooks’ revenue increased 22 percent in France and the United...
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October 31, 2023
Aston Martin Enters The High-End Cycling World With Its All-New .1R Bike
Aston Martin joins the two-wheel world with help from J.Laverack. Luxury meets innovation as Aston Martin joins forces with J.Laverack to launch the J.Laverack x Aston Martin .1R, showcased as the pinnacle of bespoke bicycles. This collaboration is a fusion of automotive high-performance design and cycling craftsmanship, resulting in a...
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October 30, 2023
Pan American Games race walk course found to be 3 km short
The first day of athletics was off to a rocky start at the 2023 Pan American Games in Santiago, Chile when the women’s 20 km race walk course was found to be three kilometres shorter than the prescribed distance. This unexpected lack of accurate course measurement led to officials quashing...
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October 30, 2023
Kaitlin Armstrong trial starts today: here’s what we know
The criminal trial for the murder of cyclist Moriah Wilson that has gripped the nation and cycling world alike gets underway in Austin, Texas, today. Defendant Kaitlin Armstrong faces a first-degree murder charge along with two felony charges for 'Unlawfully Flight to Avoid Prosecution' when she fled to Costa Rica for 43...
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October 28, 2023
Thule’s Profits Bounce Back in Third Quarter
Thule Group reported a strong recovery in earnings in the third quarter as sales rose 8.0 percent. Sales in the North American region decreased 15 percent on a currency-neutral basis. The Sweden-based maker of outdoor and transportation products reported net sales for the quarter amounted to SEK 2,311 million ($205.8...
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October 27, 2023
Ousted Planet Fitness CEO Created Toxic Culture, Per Report
Recently ousted Planet Fitness CEO Chris Rondeau is facing some out-of-this-world allegations from former employees who portray a “fitness employees gone wild” atmosphere that includes on-the-job drinking and weekend getaways bankrolled by a proverbial suitcase filled with thousands of dollars. Rondeau was shocked by being shown the door by the...
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October 26, 2023
Hoka Continues to Drive Deckers Brands in Q2, Ugg Returns to Profit
Shares for Deckers Brands were up nearly 10 percent. The footwear company reported net sales in the second quarter of 2024 increased 24.7 percent to $1.09 billion, compared to $875.6 million the same time last year. Deckers also saw a bump in its direct-to-consumer channel, reporting an increase of 38.8 percent to...
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October 26, 2023
Skechers Beats Profit Expectations in Q3, Nets Record Sales Over $2B
Skechers reported record quarterly sales of $2.02 billion, which were up 7.8 percent from the prior year and ahead of the company’s previously outlined projection of between $1.95 billion and $2 billion. Net earnings were $145.4 million and diluted earnings per share were up 69.1 percent to $0.93. Skechers had been aiming...
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October 26, 2023
FloBikes Got Caught Sneaking Subscriber Data to Facebook. That Means You’re Owed Money.
If you woke up to an email about a class action lawsuit against FloSport, it was about their subscribers being notified that FloSports disclosed its subscribers’ personal information to Facebook via the Facebook Tracking Pixel, without its subscribers’ consent, in violation of the Video Privacy Protection Act (the “VPPA”). This...
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October 25, 2023
Life Time Group Holdings Inc (LTH) Reports Strong Revenue Growth in Q3 2023
Life Time Group Holdings Inc (NYSE:LTH) released its Q3 2023 earnings report on October 25, 2023, revealing a significant increase in total revenue and adjusted EBITDA. Despite a decrease in net income, the company's adjusted net income showed a remarkable improvement, turning from a loss in Q3 2022 to a...
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October 25, 2023
The Tour De France Faces Major Disruption Due To Paris Olympics
Next summer’s Paris Olympics will cost organizers at least $4.5 billion — but the Games will also severely upend one of the most storied international events on the sporting calendar. On Wednesday, the Tour de France released its official route for the 111th edition of the cycling race in 2024, with...
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October 24, 2023
Shimano’s Sales Tumble 20 Percent In Nine Months On Cycling Weakness
Shimano Inc.’s sales tumbled 19.8 percent in the nine months as sales in its Bicycle Components segment dropped 24.8 percent with the decline tied to high inventories in the IBD channel. The Japanese-based company nonetheless slightly raised its outlook for the year as orders in the back half weren’t as...