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.
December 1, 2021
Garmin® confirms December 31 dividend payment
The Garmin Ltd. (NASDAQ: GRMN) board of directors has established December 31, 2021 as the payment date for the next dividend installment of $0.67 per share with a record date of December 15, 2021. At the 2021 annual shareholders’ meeting, Garmin shareholders, in accordance with Swiss corporate law, approved a...
November 26, 2021
Peloton has sued Lululemon in feud over cycle maker’s new apparel line
Peloton has sued Lululemon after the leggings maker threatened legal action against the connected fitness equipment company earlier this year. The suit, filed in Manhattan federal court on Wednesday, comes just a few weeks after Peloton rolled out a massive marketing blitz behind its own apparel line. The company has...
November 24, 2021
Nike and Skechers Settle Three Patent Suits
Nike Inc. and Skechers USA Inc. have reached a deal to end three lawsuits in the Central District of California in their long-running battle over intellectual property. According to filings on Friday, the two companies attended a mediation before Judge James Holderman on Nov. 16 where the parties agreed to...
November 23, 2021
Dick’s Sporting Goods’ net sales rise 14% in Q3
Dick's Sporting Goods reported net sales increased 13.9% in the third quarter year-over-year and raised its full-year guidance. Sales for the period ending Oct. 30 were $2.75 billion, compared to $2.41 billion at the same time last year. Consolidated same store sales increased 12.2% in the third quarter. E-commerce sales...
November 19, 2021
Busted: Police Capture Massive $1.5M Bike Theft Ring
On Wednesday, a grand jury indicted eight individuals for causing $1.5 million in damage to bikes and vehicles during a crime spree in Colorado’s Front Range. They face a total of 227 counts, ranging from burglary to first-degree theft.
November 19, 2021
House approves Build Back Better Act — including e-bike tax credit — which goes to Senate
The House of Representatives on Friday morning approved the Build Back Better Act that provides billions of dollars in funding for an e-bike tax credit, bike commuter benefit, and climate and equity-enhancing infrastructure as part of the $1.75 trillion social spending bill. Bicycle Retailer
November 17, 2021
Peloton Sues Rivals Over Alleged Patent Infringement
Peloton has filed lawsuits against rivals Echelon and iFit over alleged patent infringement related to the company’s on-demand fitness classes. Known for its at-home bikes and treadmills, Peloton is seeking compensation and a court order that would prevent Echelon and iFit from selling their alleged patent-violating products until the patents...
November 16, 2021
Peloton Soars After Stock Offering Attracts Major Investors
Peloton Interactive Inc. jumped as much as 15% after a $1 billion stock offering drew the interest of major investors, a sign Wall Street is ready to look past a grim forecast earlier this month. The shares rose as high as $54.45, marking the biggest intraday gain since March. The...
November 16, 2021
Inside The Call: Beachbody’s Q3 Misses Plan On Weakening At-Home Fitness Demand
The Beachbody Company, which recently went public in an IPO, reported sales dropped 17 percent in the third quarter in part because new subscribers to its fitness content weakened amid a softening in at-home fitness demand. Looking ahead, Beachbody lowered its expectations for sales for 2021 to a range between...
November 15, 2021
Beachbody Q3 Revenues Decline 17 Percent
The Beachbody Company, Inc.'s sales declined 17% due to a drop in new health and wellness subscriptions. Total revenue was $208.1 million, a 17% decrease compared to 2020 and a 6% increase compared to 2019. Net loss was $39.9 million, compared to net income of $13.8 million in 2020 and...
