March 21, 2023

Nike Q3 Earnings Beat Expectations, Wholesale Revenue Up 18%

Nike reported better-than-expected results for the third quarter — despite recent inventory excesses and challenges in China. The athletic giant reported Q3 revenues of $12.4 billion, up 14% from the same time last year and ahead of expectations from analysts surveyed by Yahoo. Net income was $1.2 billion, down 11%...

March 21, 2023

Nationwide E-Bike Tax Credit Bill Returns to Congress

The Electric Bicycle Incentive Kickstart for the Environment Act first arrived in Congress in 2021. Like most bills that come to America’s legislative chambers, it never passed into law. But five politicians and bike industry advocates hope that 2023 will be the year Americans get tax credits for buying electric bicycles....

March 21, 2023

On’s Revenues Surge 92 Percent In Fourth Quarter

On Holding AG significantly decreased its loss in the fourth quarter ended December 31 as sales vaulted 91.9 percent. For the current year, the Swiss running brand predicts sales will grow 39 percent. On finished the 2022 financial year on a high note and with a further record net sales...

March 21, 2023

Cycling kit industry branded ‘deeply broken’ as yet another brand closes down

The American apparel manufacturer from North Carolina today announced that it will cease operations in April, following an unsuccessful round of community financing. CEO David Billstrom explained that the recent WeFunder community financing campaign fell short, raising only 50% of the brand’s one-million dollar target. Cycling Weekly

March 20, 2023

Rack Attack Announces the Acquisition of Two New Stores in Calgary

Rack Attack, a leading retailer of car racks, bike racks, rooftop tents, overlanding, and other outdoor gear, has announced the acquisition of two new stores in Calgary, previously owned by Racks Unlimited. After the acquisitions, Rack Attack has a total of 38 stores in North America, further solidifying its position...

March 15, 2023

Rocky Mountain acquires its German distributor BikeAction

Canadian MTB brand Rocky Mountain has announced the acquisition of German distributor BikeAction, after decades of partnership between the two companies. BikeAction has been the European distributor for Rocky Mountain since 1998, and Germany was one of the first markets for the bike brand when it began international expansion. Bikebiz

March 14, 2023

Levisay will step down as head of The Pro’s Closet; Calandrella to succeed him

John Levisay, who has led The Pro's Closet for the past 2½ years, will leave his position as CEO at the end of this month to spend more time with his family. Paul Calandrella, formerly TPC's vice president of strategic initiatives, was named general manager and will be in charge...

March 13, 2023

Wearables firm INCUS Performance ceases trading

Wearable tech specialist INCUS Performance has confirmed that it has ceased trading with immediate effect. Initially positioned as a wearable analytics company for swimmers and triathletes, the company more recently applied its Nova wearable device for running. Endurance.biz

March 13, 2023

Who Owns Ironman? Who Owns Triathlon?

The reality is that answering, who owns triathlon is tricky. To help, we’ve put together the most recent ownership information that’s available at the time of this writing just below. Not a business whiz? We’ve also created a glossary of terms far below to help you translate. Triathlete

March 13, 2023

High-end bikes still in demand says Giant, as it announces 12.5% revenue increase

The demand for high-end bikes remains strong according to manufacturer Giant, which has announced a 12.5% jump in revenue for 2022. However, it also has excess inventory for low to mid-priced components – an area it says has cooled off considerably – while high-end components are still harder to come...

March 9, 2023

Life Time revenues up 38% as fitness centers rebound

Most of Life Time’s business — 97% — comes from its 171 large format fitness centers in the U.S. and Canada. However, Life Time’s remaining revenue of $53 million came from cycling and running events as well as some other miscellaneous sources. Revenues in the "other" category was up 69%...

March 8, 2023

Peloton, iFit hit with US import ban over streaming technology

In a 2021 complaint filed with the ITC, Dish and its Sling TV unit accused Peloton and iFit of infringing four patents for video-streaming technology through imports of products that stream at-home fitness content. These included Peloton bicycles and treadmills and iFit NordicTrack bicycles and ellipticals. Reuters

March 8, 2023

Life Time Group Holdings, Inc. (LTH) Tops Q4 Earnings and Revenue Estimates

This quarterly report represents an earnings surprise of 16.67%. A quarter ago, it was expected that this company would post a loss of $0.09 per share when it actually produced a loss of $0.07, delivering a surprise of 22.22%. Yahoo

March 7, 2023

Zwift Announces New Layoffs Reducing 15% of Workforce

Zwift has internally announced a restructuring that is resulting in a reduction of the workforce by 15%, or approximately 80 people in total. The change is largely coming out of a “fresh look” at things with Zwift’s recently added co-CEO, Kurt Beidler. Kurt came from Amazon back three months ago in...

March 7, 2023

Dick’s Sporting Goods’ Third Straight Record Year

Dick’s Sporting Goods has pulled off a third consecutive record year. The sporting goods giant topped itself yet again with full-year net sales of $12.37 billion, a 0.6% year-over-year increase and a 41.3% increase from 2019. Net income for the year fell to $1 billion from $1.5 billion in 2021....

March 6, 2023

Brooks, Asics, Nike & More Major Running Brands Are Tuning Into #RunTok on TikTok — Here’s Why

With nearly 1 billion views on TikTok, the growing community of #RunTok is fueling the running world all thanks to every day creators — and brands are taking notice. FN

March 3, 2023

Xponential Fitness Revenue Surges 58%

Xponential Fitness, which claims it’s the largest global franchisor of boutique fitness brands, reported a 44% year-over-year increase in fourth-quarter revenue to $71.3 million and a 58% increase in full year revenue to $245 million. The company posted a net loss of $400,000 for the three months that ended Dec....

March 3, 2023

Cycling journalists form Escape Collective following layoffs, exodus from Outside

In its first 24 hours of selling $99-a-year memberships, the Escape Collective has enlisted thousands of subscribers, said Caley Fretz, a Durango-based cycling journalist who co-founded the new venture with editor Wade Wallace, who founded the influential Cycling Tips in 2008 and left his creation last year. The Colorado Sun

March 2, 2023

Should the bike industry fear a takeover from the auto industry?

The number of brands and bike models and sizes per brand is mind boggling. There is a lot of change every season and trends come and go fast. With this setup, the effort for one bike model will naturally be lower than for a car model that will be in...

March 1, 2023

Fast-growing e-bike company Velotric raises $7.4M USD Series A

Velotric, a leading innovator in the electric bike market, announced today that it has successfully raised a $7.4 million USD Series A round, bringing the total raised to $12 million USD in its first year. Funding has come from Redpoint China Ventures, Fosun RZ Capital, Uphonest Capital, and Lime Cofounders...

February 28, 2023

Americans have changed the way they exercise. Here’s how gyms are adapting

Post-pandemic, the surge in the popularity of weight training has helped the gym industry recover. The number of gym memberships in the United States increased 3.6% in 2021 from pre-pandemic levels, according to the latest data from IHRSA, a trade association for the fitness industry. CNN

February 26, 2023

Jury says Princeton Carbon Works wheels don’t infringe on SRAM’s patents

Princeton Carbon Works prevailed after a two-week jury trial in which SRAM LLC had accused the company of infringing on two patents for aero wheels. In its complaint filed in the U.S. District Court for the Southern District of Florida nearly two years ago, SRAM said that the wavy rim shape on...

February 24, 2023

Garmin reports 71% profit fall in cycling and fitness business as pandemic bubble bursts

Leading US tech brand Garmin has reported a 71% drop in operating profit across its cycling and fitness division in 2022 as the pandemic bubble burst, the company's annual report said.  Published on Wednesday, the company's final report for the 2022 fiscal year shows that operating income was $105m from...

February 24, 2023

E-bike conversion brand Boost secures six-figure investment

British e-bike conversion brand Boost has closed its latest funding round after securing a six-figure investment. Boost, founded by Cambridge engineer Nick Bailey, is an aftermarket conversion kit brand that works directly with retailers. Bikebiz

February 23, 2023

Planet Fitness’ Q4 Tops Wall Street Targets

Planet Fitness, Inc. reported fourth-quarter profits more than doubled, beating expectations and forecasted an upbeat full-year outlook following strength in its December national sales, which helped to drive “record membership growth.” Excluding nonrecurring items, adjusted earnings per share increased to 53 cents, topping Wall Street’s consensus estimate of 47 cents....