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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December 14, 2020
Spinning creator files patent infringement lawsuit accusing Peloton of stealing its technology for their stationary bikes
Peloton Interactive has been hit with a patent infringement lawsuit from a company credited with sparking the world's indoor cycling craze over half a century ago. Daily Mail
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December 14, 2020
New Holland Brewing Announces New Vice President of Marketing
(Holland, MI) Dec. 14, 2020 -- New Holland Brewing, the leading craft brewery and distillery based in Holland, MI, is proud to announce Arturo Rojas as Vice President of Marketing. Rojas comes to New Holland Brewing with over 20 years of marketing experience, most recently as Marketing Director, at Amway...
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December 10, 2020
Lululemon’s Quarterly Revenue Jumps 22% as Online Sales Soar
Athleisure giant Lululemon reported $1.1 billion in net revenue for its 2020 fiscal third quarter after markets closed on Dec. 10. Quarterly revenue jumped 22% as the as an online sales surge more than compensated for a dip in company-operated store sales. Front Office Sports
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December 10, 2020
Louis Garneau Completes Financial Restructuring
The Louis Garneau Sports Group, which filed for creditor protection in Canada in March, announced a new investor to complete a reorganization and has set a brand relaunch. Its company founder, Louis Garneau, remains the majority shareholder. SGB Media
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December 10, 2020
USA Triathlon Drives Forward with Toyota
COLORADO SPRINGS, Colo.— USA Triathlon today announced it has extended its partnership with Toyota as the organization’s Exclusive Mobility & Automotive Partner. The company will directly support USA Triathlon’s top elite athletes in the lead-up to the postponed Tokyo Olympic and Paralympic Games next summer and will continue its groundbreaking...
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December 10, 2020
Maryland Cycling Classic Launches New Apparel Line
BALTIMORE, Maryland – The Maryland Cycling Classic supported by UnitedHealthcare, America’s biggest and highest-ranked one-day professional men’s bike race, is launching a new apparel line with technical apparel and jerseys from Athlos and a casual apparel line from DMC Sport. The inaugural event, which takes place September 5, 2021, will...
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December 9, 2020
Peloton shares briefly fall as Apple announces cheaper rival fitness service launches Dec. 14
Apple announced Fitness+, a digital fitness subscription service, will launch on Dec. 14 at $9.99 per month. With this, shares of Peloton fell 2% in pre-market trading on the news but recovered after markets opened. CNBC
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December 9, 2020
High Five Events Ranked #35 on 2020 Inner City 100 List
AUSTIN, Texas, December 9, 2020 - The Initiative for a Competitive Inner City (ICIC) announced that Austin’s High Five Events is a winner of the 2020 Inner City 100 (IC100) award which recognizes the 100 fastest-growing firms in under-resourced communities across America. The winners were picked based on revenue growth...
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December 8, 2020
Pocket Outdoor of Boulder raises additional $5.27M
Pocket Outdoor Media LLC raised $5 million more within its Series A round, bringing its total funds raised in the round to just less than $16.5 million, according to filings with the U.S. Securities and Exchange Commission on Friday. The funds came from an additional 22 people and groups, bringing...
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December 8, 2020
USA Cycling Champions the Programs, Participation, and Performances Essential to Cycling in America with New Board Members
COLORADO SPRINGS, Colo. – USA Cycling announced the approval, by vote, of new organizational bylaws and Board of Director members. In an overwhelming vote of confidence and after working in close alignment, the USA Cycling Board of Directors has given a full endorsement to the next 100 years of championing...
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December 8, 2020
Wahoo Announce Official Partnership with Challenge Family
(London – Tuesday, 8th December 2020) – Wahoo- the global leader in smart training - has officially launched a new partnership with CHALLENGE FAMILY, one of the leading global triathlon event organisers. Wahoo joins CHALLENGE FAMILY in a three-year commitment, which will see them as the ‘Official Global Training Partner' and...
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December 7, 2020
PeopleForBikes Announces New Coalition Members and Subcommittee Volunteers
BOULDER, COLO (Dec. 7, 2020) — Despite the many challenges our nation faced in 2020, PeopleForBikes was hard at work this year supporting the bike industry and getting more people on bikes. Working to ensure bicycling and local bike shops were considered essential at the beginning of the COVID-19 pandemic,...
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December 7, 2020
Bikes projected to outsell cars in Europe two-to-one by 2030
Three cycling associations this week announced a new forecast for the cycling sector, which showed that Europeans are expected to buy an extra 10 million bikes per year by 2030, a whopping 47% more than in 2019. Cyclingtips
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December 4, 2020
New Balance is laying off several dozen employees as it shutters Boston factory
The footwear and apparel brand revealed that 63 employees at its Boston-based factory will be affected. Footwear News
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December 4, 2020
A new challenge for professional triathletes: Toppling Ironman Inc.
For decades, the Ironman and other races filled with weekend warriors have dominated triathlon. Now, the elites are trying to take control with a new series. NYT (subscription)
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December 4, 2020
Made in the Mitten – A Story of Snowboarding
(Holland, MI) Dec. 5 2020 -- New Holland Brewing of Holland, MI is partnering with Vermont-based iconic snowboard brand, Burton, to support director Zeppelin Zeerip’s new short film, Made in the Mitten. Harkening back to the original days of Snurfing, as popularized by inventor Sherman Poppen in 1965 in Muskegon,...
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December 3, 2020
IRONMAN’s Response to False and Misleading Statements Regarding Andrew Starykowicz Anti-Doping Rule Violation
IRONMAN’s Anti-Doping Program IRONMAN has been a World Anti-Doping Agency (WADA) Code Signatory since 2005, and as such IRONMAN is obligated to operate its Anti-Doping Program in compliance with the WADA Code like other private and public WADA Code Signatory’s. IRONMAN is committed to complying with its obligations as a...
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December 3, 2020
Statement of the PTO on Andrew Starykowicz Case
LONDON, ENGLAND: The Professional Triathletes Organisation today announced that it will be appointing counsel to investigate what appears to be structural irregularities in the anti-doping case against Andrew Starykowicz. The PTO has written to USA Triathlon and World Triathlon, the applicable recognised not-for-profit governing bodies, to communicate its concerns and...
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December 1, 2020
Michael Capiraso To Step Down As NYRR President & Chief Executive
Kerin Hempel, a former New York Road Runners executive and consultant, has been named interim CEO. Capiraso’s departure was preceded by a tumultuous time for the 62 year-old NYRR, hit hard by the pandemic, thus forcing a complete halt to in-person running events, and necessitating the reduction of its staff....
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November 30, 2020
Six Americans Elected to World Triathlon Committees, Including Gallegos to Executive Board
COLORADO SPRINGS, Colo. — Six leaders within the United States multisport community were elected to various positions within World Triathlon Sunday at the XXXIII World Triathlon Congress, highlighted by the election of Gabriela Gallegos (El Paso, Texas) to the World Triathlon Executive Board. The U.S. had four female candidates successfully...
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November 30, 2020
With the help of J&A Racing, Nuun delivers a memorable virtual half marathon for its ambassador team
November 30, 2020 – J&A Racing, a nationally recognized race management company based in Virginia Beach, Virginia, utilized it’s nearly 20 years of experience in the running industry to help Nuun deliver a memorable virtual Half Marathon for the Nuun ambassador team. With in-person races disappearing from every runner’s 2020...
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November 29, 2020
Nike Unite
Nike is testing a chain of new shopping experiences called “Nike Unite,” which are tailored to local communities in select locales around the world. Each store will have unique decorations that represent the local culture, including a community wall that highlights local partnerships. Products will be specifically curated for the...
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November 26, 2020
Parcours wheels partner with Crank n’ Chain in Singapore
British wheel brand Parcours will be coming to the Singapore market, working with recently-opened luxury bicycle concept store Crank n’ Chain for local distribution, sales and support. Crank n’ Chain will be featuring Parcours wheels in their Sentosa Cove store, as well as working to build a B2B offering in...
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November 24, 2020
Dick’s Earnings and Sales Blast Past Forecasts, Names New CEO
Dick’s Sporting Goods announced that its board of directors unanimously elected president Lauren Hobart to the post of CEO, effective Feb. 1. Dick’s also posted stronger-than-anticipated quarter: For the three months ended Oct. 31, it logged profits of $182.2 million, or earnings of $2.01 per share, compared with the prior...
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November 24, 2020
Athleta’s Q3 Sales Jump 35 Percent
Net sales were flat year-over-year at $4.0 billion, above Wall Street’s consensus estimate of $3.80 billion. The performance reflected a 61% increase in online sales, offset by a 20% decline in store sales. Notably, 40% of the company’s sales were online in the third quarter. Athleta operated 198 stores at...