News Topics
-
November 11, 2022
Aventon eBike label reportedly gains Sequoia Capital backing
The electric bike brand Aventon has reportedly drawn the interest and investment of Sequoia Capital’s Chinese arm. For Aventon the investment reportedly takes the company’s valuation from $200 million eight months ago when China’s Gao Rong Capital invested to a post-investment valuation of $590 million, according to sources tapped by...
-
November 11, 2022
Fitness Chains Continue Pandemic Recovery In Q3
Planet Fitness, Xponential Fitness and Life Time Group Holdings all raised their full-year guidance and reported a strong uptick in revenues and membership growth in the third quarter, although membership activity has yet to return to pre-pandemic levels. Executives on analyst calls said they remain bullish on continued improvement in...
-
November 10, 2022
Why The Running Event Is Welcoming New Brands and Embracing the Outdoors
Last November, in its return to in-person events, The Running Event (TRE) reported a slight dip in exhibitors, but record high attendance for retailers and media. Headed into its upcoming show this month in Austin, Texas, executive director Christina Henderson said participation has rebounded on all fronts. FN
-
November 9, 2022
Life Time Lifts Guidance As Q3 Beats Plan
Life Time Group Holdings, Inc. slightly lifted its outlook for the year after reporting third-quarter results that topped its guidance. Sales were ahead 28.9 percent as fitness center memberships were up 9.0 percent year-over-year. Total revenue increased 28.9 percent to $496.4 million from $385.0 million; net income was $24.7 million...
-
November 9, 2022
Wolverine Stock Slides as Company Misses Revenue and Profit Targets in Q3
Total revenue in the third quarter of 2022 was $691.4 million, which represents growth of 8.6% versus the prior year. Net earnings were $38.8 million, down 0.8% from the same time last year. By brand, Merrell's revenue was $198.6 million in the quarter, up 33.6% compared to the same period...
-
November 9, 2022
Squaw Valley 1960 Olympic Winter Torch sells for $720,000
The Squaw Valley 1960 Winter Olympic Games Torch, which was once in the possession of Walt Disney, has fetched $720,000 (£621,000/€714,000) at auction to an unknown buyer. Disney, who was the chairman of the Games Pageantry Committee, gave the Torch to film producer, writer and director Tom Leetch for his...
-
November 9, 2022
Adidas slashes 2022 outlook, investors pin hopes on incoming CEO
Adidas (ADSGn.DE) further cut its 2022 outlook on Wednesday as it weighed the impact of its split from Ye, the rapper formerly known as Kanye West, but its shares rose on investor hopes a new CEO arriving from rival Puma can lead a fresh era of strength. Bjorn Gulden, who...
-
November 9, 2022
The 50 Best Places to Work in 2022
In a post-pandemic world, workers are demanding remote flexibility, more time off, and generous health benefits. These are the companies meeting that bar and more, while encouraging their employees to live an active lifestyle and allowing them to achieve a healthy work-life balance. Outside Online
-
November 8, 2022
Planet Fitness Revenue Bulks Up to $244.4M
Planet Fitness is making its pandemic comeback. The large fitness center operator reported third-quarter revenue of $244.4 million, marking a 58.4% increase from the same period last year. Net income reached $30.7 million, up $12 million from the same period the year prior. System-wide same store sales jumped 8.2%, and system-wide sales increased from...
-
November 8, 2022
Peloton settles pending litigation with rival Echelon
Peloton Interactive Inc and rival Echelon Fitness on Tuesday said they had settled all pending litigation between them, more than three years after Peloton sued the Tennessee-based fitness company for patent infringement. Echelon has agreed to stop using Peloton's patented leaderboard technology in on-demand classes, the companies said in a...
Follow us on
