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 28, 2020
Echelon Fitness Raises $65 Million
The financing is led by Goldman Sachs Growth, along with participation from existing investor, North Castle Partners. Echelon produces over 30 live classes daily and offers a library of nearly 5,000 on-demand, led by its team of trainers. SGB Media
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December 28, 2020
ReSport offers $350 Special for 2021 Virtual Events
Realtime Experience Sport (ReSport), a platform for advanced virtual races and challenges, mapping, registration, results, and race tracking systems, announces a year-end special for organizations that would like to hold a virtual event in 2021. All orders placed before January 15 cost $350 for events up to 1,000 participants, with...
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December 26, 2020
The US wasn’t equipped for 2020’s cycling boom. Its failures stem from a century of leaving bikes behind.
When COVID-19 hit last spring, transportation departments began designating temporary bike lanes to accommodate a pandemic-era surge in cycling. Although the pandemic highlighted some cities' ability to innovate, it also forced the US' longstanding lack of good biking infrastructure into the spotlight. yahoo!news
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December 23, 2020
Dawna Stone Named CEO of Running USA
(Dec. 23, 2020) – Running USA, the leading trade association for the running industry, announced today that Dawna Stone has been hired as the organization’s fourth CEO in its 22-year history. Stone is a mom of two, the author of ten books, a certified health coach, motivational speaker and successful...
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December 23, 2020
Kane Footwear Names Purple Orange Brand Communications as Public Relations Agency of Record
Westport, CT — Kane Footwear, a new name in active recovery footwear, is pleased to announce a partnership with Purple Orange Brand Communications to oversee all PR efforts on behalf of the brand. Kane’s flagship slip-on shoe, the Revive, will launch on February 2, 2020 and is the company’s first...
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December 22, 2020
Ex-employee sues Specialized for wrongful dismissal, alleges sexual harassment
The graphic designer is charging that she was terminated in violation of federal and state civil rights and employment laws, claiming she endured a hostile work environment where women were treated as less competent than men and as sexual playthings for upper management. Bicycle Retailer
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December 22, 2020
Will the Home Fitness Boom Stretch Beyond the Pandemic?
What will be the new “normal” for fitness? Are people are going to rush back to crowded gyms? With the surge in sales of home fitness equipment and the popularity of home and gym workouts, it looks like people have adapted to new fitness and workout habits. Front Office Sports
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December 22, 2020
24 Hour Fitness Sees Bankruptcy Emergence By Year End
The U.S. Bankruptcy Court for the District of Delaware late Tuesday confirmed the reorganization Plan for 24 Hour Fitness, reducing approximately $1.2 billion of funded debt and expects to emerge from Chapter 11 by December 31, 2020. SGB Media
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December 21, 2020
Peloton shares soar after company announces $420 million deal for fitness equipment maker Precor
Peloton shares soared Monday after the company announced it plans to acquire the exercise equipment manufacturer Precor for $420 million, with its stocks jumping more than 6% in after-hours trading. CNBC
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December 21, 2020
The Abbott World Marathon Majors Global Run Club members embrace a year of extraordinary running
Runners from 109 nations track 4.3million miles in first three months 63% of member’s running behaviors impacted by COVID 72% of members ready to run with others again when events return The Abbott World Marathon Majors (AbbottWMM) Global Run Club launched in August 2020 and within the first three months it...
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December 19, 2020
Yahoo Finance Digital sales and China emerged as the twin pillars lifting Nike’s Q2 earnings
The sportswear giants’ Q2 revenue came in at $11.2 billion vs. $10.55 billion expected and $10.33 billion year over year. Earnings per share came in at 78 cents vs. 62 cents expected and 70 cents year over year. Digital sales and China emerged as the twin pillars lifting Nike’s Q2...
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December 18, 2020
Dick’s SG Partners For Same-Day Delivery
Dick’s Sporting Good and Instacart announced that the companies have partnered to launch same-day delivery from more than 150 stores to provide another safe and convenient shopping option for its customers during the holidays and beyond. Stores impacted include Dick’s locations in Connecticut, Delaware, Georgia, Maryland, New Jersey, New York,...
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December 17, 2020
THRU’s Proprietary Bike Delivery Service Upgrades Customers’ Experience
Your Bike. There. THRU’s new flagship “Ready to Roll” service delivers a professionally assembled bike instead of a bike in a box. New bike owners are ready to ride immediately and don’t have the headache of assembling - or finding a bike mechanic to assemble - their new bike for...
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December 17, 2020
TZP Group Provides Strategic Investment in Xero Shoes
BROOMFIELD, CO– (December 17, 2020) -TZP Group announced a strategic investment and partnership with Feel The World, Inc. dba Xero Shoes, a leading provider of natural movement footwear. Launched in 2009 by Lena Phoenix and Steven Sashen, Xero is a leading name in the growing natural movement footwear segment, offering...
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December 17, 2020
Team MPI Adds Maria Netherland to Senior Leadership and Celebrates A Successful Challenge Series
Boise, ID (December 2020)– Despite all the difficulties 2020 brought, Team MPI is finding ways to grow and help athletes continue getting smarter, stronger, and faster! Team MPI bolstered its senior leadership team by adding Maria Netherland to the staff. Maria has been on the coaching team for more than...
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December 16, 2020
Life Time to Launch New Digital Membership December 19 – Delivering Company’s Premier Programs, Performers and Content to Members – Wherever They Are, Whenever They Want
Chanhassen, Minn., (December 18, 2020) – Life Time, the nation’s premier health, fitness and lifestyle brand which owns and produces more than 30 premier athletic events and continues to shape the way consumers move, work, live and play – digitally and physically – has announced the launch of its new...
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December 16, 2020
PeopleForBikes Coalition Board Meets to Discuss Plans for 2021, Welcome New Board Members and Giant’s An Le as Vice Chair
BOULDER, COLO. (Dec.16, 2020)— The PeopleForBikes Coalition Board of Directors, composed of 18 of the bike industry’s top leaders, met virtually for their semi-annual gathering on December 15. The board discussed the effects of the COVID-19 pandemic on bicycle participation, access and the industry; the organization’s workplan for the upcoming...
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December 15, 2020
USA Cycling just overhauled its youth development system. Here’s why.
The new Olympic Development Academy system charges riders $10,500 to participate, but offers high-performance coaching and racing opportunities to a wider group of cyclists. VeloNews
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December 15, 2020
Canyon bicycles set to be acquired by Groupe Bruxelles Lambert
Canyon sought a new equity partner after its relationship with TSG Consumer Partners concluded earlier in 2020. Canyon founder Roman Arnold still however remains the largest individual shareholder in Canyon, with 40% of its shares. VeloNews
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December 15, 2020
Pocket Outdoor Media hires former POWDER leadership to bolster snowsports category
Boulder, Colorado, USA — December 15, 2020 —Pocket Outdoor Media (POM), the world's leading creator of active lifestyle content, today announced two new leadership additions that will further solidify the company’s place in the snowsports category. On January 4th, Micah Abrams and Sierra Shafer will join the POM team. Micah...
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December 14, 2020
Walmart Goes Big for Bicycling: Corporation Joins PeopleForBikes Coalition
BOULDER, COLO (Dec. 14, 2020) —The PeopleForBikes Coalition, the national bike industry trade association representing nearly 300 companies that manufacture and sell bicycles, is pleased to announce that Walmart signed on as one of their newest members. PeopleForBikes members are united to improve bicycling across the U.S. and get more...
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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