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 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....
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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...
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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
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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...
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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
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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...
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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
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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
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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...
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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%...
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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
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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