BUSINESS NEWS
Want to stay up to date on the latest press releases and business news in the running, cycling and triathlon industries? Scroll below to view all endurance sports business news.
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April 28, 2023
Declining bike-product demand contributes to Thule’s Q1 net sales decrease
Thule Group's first-quarter net sales were down 26.6% year-over-year, largely due to declining bike-product demand from retailers lowering inventory levels. Net sales for the quarter ending in March were SEK 2,226 million ($215.2 million), compared with SEK 3,034 million at the same time last year. Thule's inventory decreased in the...
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April 25, 2023
Life Time Group Holdings Reports Impressive Q1 Earnings
Life Time Group Holdings (NYSE:LTH) has reported its Q1 earnings on April 25, 2023, and the results are impressive. The company has surpassed the analyst consensus estimate for both earnings per share and sales. Life Time Group Holdings reported earnings of $0.14 per share, which is 133.33 percent higher than...
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April 24, 2023
Brooks Sues Skechers Over ‘Beast’ Trademark
Brooks Sports, Inc. filed a lawsuit against Skechers U.S.A., Inc., alleging the company infringed on its ‘BEAST’ trademark used on Brooks running shoes since 1992. Brooks said Skechers’ use of the SPEED BEAST mark “on similar products, marketed and sold through similar channels, is highly likely to cause consumer confusion...
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April 21, 2023
Under Armour Founder Kevin Plank Reveals How the Brand Is Finding Its Identity in Footwear
There’s plenty of newness at Under Armour nowadays. For instance, the Baltimore, Md.-based company announced last December that it hired Marriott International executive Stephanie Linnartz as its next president and CEO. Also, construction is underway on the athletic giant’s new campus in the city. However, one of the more compelling...
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April 19, 2023
The Ethics of Running Contracts
There are certain mysteries of the world that are fun and exciting. Consider black holes, aliens, and the Loch Ness monster. But I am not sure why running contracts are among them. Surely, it is not to our benefit that we do not know our worth. Certainly, it would help...
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April 19, 2023
New Balance Looks to Grow Gaming Audience With New Rival Partnership
New Balance is joining forces with Rival to grow the athletic brand’s global gaming community. According to New Balance, it will partner with Rival through a series of online tournaments with the aim of giving the gaming community “special access to the brand” through athletes, ambassadors, unique experiences and exclusive...
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April 18, 2023
Social cycling app Link My Ride secures investment from sports stars
Link My Ride, the social cycling app, has secured investment from a range of high profile names from across sport, including F1 star Valtteri Bottas, alongside current professional cyclists Daryl Impey, Tiffany Cromwell and Ryan Gibbons. Headlining the list of new sporting investors is Finnish Formula 1 driver Valtteri Bottas,...
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April 18, 2023
‘World’s longest’ purpose-built cycling tunnel opens in Norway
A three-kilometer-long (1.8-mile) cycling and pedestrian tunnel has been blasted through the base of Løvstakken mountain and its makers say it’s the longest purpose-built tunnel of its kind. Fyllingsdalstunnelen, as it’s known, opened on April 15 with a family day of sporting activities, following four years of construction that began...
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April 17, 2023
Lululemon Exploring Sale Of Mirror Fitness Platform
Lululemon Athletica, Inc. is working with an adviser to explore selling the Mirror connected fitness business, which has underperformed since LULU acquired the company in 2020, sources told Bloomberg. The report comes as Lululemon on March 29 said it absorbed after-tax impairment and other charges totaling $442.7 million against fourth-quarter earnings...
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April 15, 2023
Fitstop To Expand Into U.S. Market; Hires NA Athletic Director
Australia-based fitness chain Fitstop reported plans to enter the U.S. market with a flagship location opening in Santa Monica, CA. The company also plans to open ten U.S. locations by the end of 2023. Peter Pisani was hired as Fitstop’s North America Athletic Director. SGB Media
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April 13, 2023
Troubled waters for Wahoo? GPS and indoor training brand cites “special agreement” after missing payment deadline and getting its credit rating lowered again
One of the biggest credit ratings agency has sounded the alarm for Wahoo’s debts, after the company missed payment months after being warned that such a scenario could be on the horizon; but Wahoo has claimed that it has a “special agreement” with its lenders regarding the delay. The latest...
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April 12, 2023
Peloton’s Shares Slide As Morgan Stanley Warns Of Slowing Web Traffic
Peloton Interactive Inc.’s shares fell 11.2 Wednesday after Morgan Stanley said the connected fitness company’s web traffic had decelerated and could hinder growth. Shares fell $1.29 to $10.20 on the day. The stock’s 52-week range is between $6.66 and $26.50. Morgan Stanley reiterated its “In-Line” rating at a price target...
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April 12, 2023
After $250M in Retail Sales, Prime Hydration Looks to Youth Sports
Base, a sponsorships sales agency, is planning brand activations for Prime at 60 youth sports events to reach more than 1.2 million consumers. After signing deals over the past year with professional organizations UFC and Arsenal FC, Prime will now promote its drinks directly to its targeted youth consumers through...
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April 11, 2023
Tonal Names New CEO, Raises $130 Million in Funding
Tonal, San Francisco, named a new CEO and completed a funding round that raised $130 million in new capital, the company announced on April 10. The funding came through existing investors, led by L Catterton, Cobalt, Dragoneer, Kindred Ventures and THVC. It is part of a broader recapitalization strategy to strengthen the...
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April 10, 2023
Lululemon, Patagonia Lead Activewear Brands In Resale Popularity
Lululemon is the second most popular brand in resale, according to ThredUp’s 11th Annual Resale Report. Other activewear brands that made its Top 20 Most Popular Brands In Resale include Patagonia, at No. 6; Vuori, in 10th place; and The North Face, at 18. ThredUp’s study, based on research conducted...
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April 4, 2023
After Hitting $1 Billion, Here’s How Hoka Plans to Surpass Its Next Sales Milestone
What a decade. As one of footwear’s newest billion-dollar brands, Hoka has skyrocketed under Deckers direction. It’s an impressive feat given that the performance running brand had sales of less than $3 million when the company acquired the brand in 2012. FN
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April 4, 2023
Lessons From Race Directing in 2023
Now that we’ve gotten that out of the way — 2023 marks my fifteenth year producing running and triathlon races. I’ve transitioned out of producing events as either part of my day job or as my day job. For the last eight years, my wife and I have co-produced a...
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April 1, 2023
Vista Outdoor makes layoffs at Bell and Giro as Fox Racing integration continues
Sources at Bell and Giro tell BRAIN that the Vista Outdoor brands made significant staff layoffs this week, especially in the marketing, brand, and creative departments. One source said Vista Outdoor is closing the Bell/Giro facility in Scotts Valley and consolidating the brands' staff at the Fox Racing headquarters in Irvine....
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March 29, 2023
Adidas retracts opposition to Black Lives Matter three-stripe design
Sportswear maker Adidas AG (ADSGn.DE) on Wednesday reversed course 48 hours after asking the U.S. Trademark Office to reject a Black Lives Matter application for a trademark featuring three parallel stripes. Adidas rescinded its opposition without prejudice, which means it could still challenge the trademark on the same grounds in...
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March 28, 2023
Oofos Completes Funding Round Led by Pro Athletes Derek Carr, Alex Smith and Dawn Staley
Oofos has completed a new round of funding, which was led by Derek Carr of the New Orleans Saints, retired NFL quarterback Alex Smith and WNBA star turned championship-winning women’s college basketball coach Dawn Staley. The trio of sports stars all had ties to the active recovery footwear brand prior...
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March 28, 2023
Lululemon’s Revenue Rises 30% to $2.8B During Quarter
Athleisure giant Lululemon reported strong global sales for the fourth quarter and 2022 fiscal year. The company announced that revenue rose 30% to $2.8 billion for the quarter ending Jan. 29, 2023. Income from operations decreased 47% to $314.4 million, but adjusted income from operations increased 33% to $785.3 million....
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March 27, 2023
Gary Fisher Does E-Bikes: Mountain Bike Pioneer Launches ‘Morelle’ Brand
With a new company called Morelle, mountain bike pioneer Gary Fisher claims to have developed a line of e-bikes far superior to the market's current offerings.
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March 23, 2023
Time Bicycles unveils plans for carbon frame factory in South Carolina
Time Bicycles announced plans Thursday for the nation's largest carbon fiber bicycle manufacturing facility after acquiring a 140,000 square-foot factory in nearby Landrum. Karklins said renovations to the factory will begin next month at the factory that sits on 30 acres and is the former home of Bommer Industries, a...
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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%...
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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....