News Topics
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October 31, 2022
Thule reports ‘rapidly declining’ demand for bike-related products in third quarter
Thule Group has published its interim report for July to September 2022, reporting a 23% decline in third-quarter sales year-on-year. Net sales for the quarter amounted to SEK 2,139m. Adjusted for exchange rate fluctuations, sales declined 29.4%. Net sales for the first nine months of the year amounted to SEK...
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October 31, 2022
British Cycling chief steps down three weeks after controversial Shell deal
Brian Facer has stepped down with immediate effect as chief executive of British Cycling, three weeks after the organisation announced a partnership with Shell UK that was fiercely criticised by environmental groups. In a statement released yesterdayon Monday, the national governing body for road and track cycling said the decision had been...
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October 31, 2022
Layoffs Occur at Mindbody, ClassPass
For the second time in two years, Mindbody has implemented staff layoffs at Mindbody, and this time it also included employees at ClassPass, which Mindbody acquired in October 2021. The software and experience technology platform company did not share how many people were laid off, but those who were laid...
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October 31, 2022
Kitzuma temporarily suspends delivery service
Kitzuma Cycling Logistics suspended its delivery service for the fall and winter and laid off most of its driver network in reaction to slowing demand for its door-to-door bike shipping business. Bicycle Retailer
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October 27, 2022
Fitness Drives Apple to Record Quarter
Apple reported record fourth-quarter revenue of $90.1 billion — an 8% increase year-over-year — for the period ending Sept. 24. The tech giant’s wearables segment, which includes its fitness watches, posted $9.6 billion in revenue compared to Wall Street estimates of $8.8 billion. FOS
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October 27, 2022
Tech startup Body Rocket seeking US investment following £430,000 UK and EU raise
Tech startup Body Rocket is seeking US investment following a successful £430,000 UK and EU raise. Body Rocket is creating the ‘world’s first’ device to provide real-time aerodynamic drag force measurement for cyclists and triathletes, with the accuracy of a wind tunnel. The patented technology (UK only and USA applied-for)...
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October 27, 2022
The Difference Between Zero-Sugar and Electrolyte Sports Drinks
Sugar-free sports drinks are made with artificial sweeteners, such as sucralose, and are generally lower in calories and carbohydrates than regular sports drinks. However, this doesn’t mean they’re completely void of electrolytes. Outside Online
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October 27, 2022
Track Bicycle Racing to Enter the Metaverse
A new partnership between Warner Bros. Discovery Sports and Infinite Reality will bring an immersive metaverse experience to the Union Cycliste Internationale (UCI) Track Champions event in London on Dec. 2-3, 2022. Visitors get the opportunity to preview “an immersive experience to engage fans,” a press release said. Gear Junkie
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October 26, 2022
Life Time Is Biggest Operator of Pickleball Courts in the Country
Life Time, Chanhassen, Minnesota, now has more than 350 permanent pickleball courts in the United States with plans to have 600 open by the end of 2023, the company said on Oct. 25. Since August 2021, Life Time has built indoor and outdoor pickleball courts at a rate of five...
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October 26, 2022
Kanye West was kicked out of Skechers’ offices after he showed up ‘uninvited,’ the company says
Ye, formerly known as Kanye West, was booted from Skechers’ corporate offices in Los Angeles on Wednesday after he showed up uninvited and unannounced, the company said. In a statement, the shoemaker said two executives escorted Ye and others from the company’s offices following a brief conversation and after he...
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October 26, 2022
NPD Reports Q3 Footwear Revenues Flat
In the third quarter of 2022, U.S. footwear industry sales revenue was flat at $10.8 billion, versus Q3 2021, according to global marketing group The NPD Group. While sneakers continued to capture the largest piece of the footwear business, fashion shoes and sandals were the top growth categories in Q3, based on...
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October 26, 2022
Garmin Raises 2022 EPS Guidance On Improved Margin Outlook
Garmin, Ltd. reported sales declined 4 percent in the third quarter ending September 24, dragged down by an 18 percent slide in the fitness segment. Second-quarter earnings topped Wall Street estimates and Garmin lifted its full-year EPS outlook on an improving margin outlook. SGB Media
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October 25, 2022
Kanye West split will cost adidas over $1B in Annual Sales
Adidas’ decision to end its partnership with Kanye West and immediately stop selling his Yeezy brand, due to West’s recent antisemitic and other hateful comments, will likely cost the company billions of dollars in annual sales and could set up a legal battle over the intellectual property behind the fashion...
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October 25, 2022
Shimano says bike demand “cooling” but ahead of pre-Covid levels
Shimano has described global demand for bikes as “cooling” in its Q3 financial update, but to levels that remain ahead of pre-pandemic trends. As the industry rumour mill whispers of signs of strain, Shimano said that from its view “in terms of market inventories of completed bicycles, those of high-end...
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October 25, 2022
Sports Drinks Boost Coca-Cola to $11B Quarter
Coca-Cola continues to rack up revenue from its sports drinks segment. The beverage giant generated $11.1 billion in revenue in Q3 2022 — a 10% increase year-over-year and surpassing Wall Street estimates of $10.52 billion. Sports drinks — which include BODYARMOR, Powerade, and Aquarius — grew 6% during the quarter....
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October 24, 2022
Cowen Survey: Nike, Lululemon and Dick’s SG Seize Share With Younger Consumers
According to Cowen’s Fifth Annual proprietary Gen Z and Millennial survey, Nike, Lululemon and Dick’s Sporting Goods showed the strongest competitive positions and/or growth in preference among younger consumers within softlines retail. The survey, conducted in July 2022, had 2700 U.S. consumers participate. SGB Media
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October 24, 2022
London Marathon ballot site down as runners rush to find out whether they got a place
The London Marathon’s website has broken, as runners rushed to find out the results of its ballot. Users were unable to find out whether they would be running the event in 2023, amid a major outage on the website. Independent
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October 24, 2022
Apple Fitness+ features yoga with ultrarunning legend Scott Jurek
Beginning Oct. 24, Apple Fitness+ is expanding its fitness and wellness service to be available to all iPhone users, and launching a superior set of workouts with new music to accompany them. Fitness+ will also introduce a new workout program, Yoga for Every Runner, featuring and designed with one of...
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October 23, 2022
Gold’s Gym owner and 5 others feared dead after plane crash off the coast of Costa Rica
Gold’s Gym owner Rainer Schaller, his family and two others are feared dead after a plane they were on apparently crashed off Costa Rica’s Caribbean coast on Friday, officials said. The Costa Rican Ministry of Public Security posted on Facebook on Friday saying a plane heading from Mexico to Limon,...
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October 23, 2022
Explained: why camera drones are a long way off replacing helicopters in cycling races
It’s what we at Cycling Weekly have assumed for a while, too. We wrote in our eight environmental proposals in August that race organisers should down the choppers and embrace the modern technology of drones. Cycling Weekly
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October 21, 2022
Strava’s Jogging Data Illustrates the Persistence of Gentrification
If you see a jogger, you’re probably in a white neighborhood. That’s according to Strava data from major cities like New York City and Baltimore, which show that running paths mirror American segregation. Running requires the perception of safety of multiple kinds, a necessity Black neighborhoods have long been denied....
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October 20, 2022
Adidas Slashes Full Year Outlook, Rolls Out ‘Business Improvement Program’
Adidas now expects total currency-neutral revenues for the total company to grow at a mid- to single-digit rate in 2022, compared to a previous projection of a mid- to high-single-digit rate in 2022. This would reflect double- digit revenue growth in Q4. Net income from continuing operations in 2022 is...
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October 20, 2022
Two-time Rotterdam Marathon champion banned three years for EPO
The 2016 and 2019 Rotterdam Marathon champion, Marius Kipserem, was given a three-year doping ban by the Athletics Integrity Unit on Thursday for the use of erythropoietin (EPO), which is a breach of the World Athletics Anti-Doping Rules. Canadian Running
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October 18, 2022
Will Ventures closes second fund with $150M to invest in sports technologies
The low-flying, Boston-based venture outfit Will Ventures just tripled the size of its second fund to $150 million thanks to its approach of investing in sports technologies with the help of its community of athlete backers who help promote and grow the portfolio companies. Now armed with $150 million for...
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October 18, 2022
Skechers Sues Hermès For Patent Infringement
In a statement, Skechers claims that in 2022, Hermès introduced two footwear styles, the Éclair and Envol, which use mid-sole and undersole design elements that infringe multiple Skechers patents for its Massage Fit technology that Skechers incorporates into its Skechers Go Walk series and other product lines. SGB Media