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.
August 9, 2021
Planet Fitness Sees Q2 Sales Climb 241 Percent
Total revenue increased from the prior-year period by 241.1 percent to $137.3 million. The fitness chain also said it added 700,000 net new members since the end of its first quarter, marking six consecutive months of net membership growth. SGBMedia
August 9, 2021
Brooks Running Revenue Grew 75% in Q2 as It Continues to Steal Share in Women’s From Nike and Adidas
The running shoe brand, which is a subsidiary of Berkshire Hathaway Inc., reported that its global revenue rose 75% in Q2 of 2021 compared to 2020. Overall, revenues for Berkshire Hathaway’s consumer units, which include its apparel and footwear operations such as Brooks, increased about $1.5 billion, or 68%, in Q2. FN
August 6, 2021
Dorel Sports’ Q2 Revenues Climb 11 Percent
Dorel Industries reported its Dorel Sports brands, which include Cannondale, Schwinn, GT, Mongoose, Caloi, and IronHorse, posted its ninth consecutive quarter of revenue growth. Revenue in the segment was US$317.3 million, an increase of US$31.7 million, or 11.1% from last year. Six-month revenue increased to US$587.7 million, up US$113.8 million,...
August 6, 2021
Pedego’s $121 million progress is a classic e-Bike biz story
Pedego has this week revaeled that in the past 12 months the business has turned $121 million in retail sales, illustrating that a shift in the demographics buying is accelerating the pace of e-Bike adoption. Cycling Industry News
August 5, 2021
Levi Strauss & Co. to Acquire Activewear Brand Beyond Yoga
The acquisition will bring the athletic and lifestyle apparel brand Beyond Yoga brand to more consumers through direct-to-consumer expansion, including brick-and-mortar retail, gender and category growth, and further develop its wholesale footprint with premium partners. With this transaction, LS&Co. enters the activewear category. Businesswire
August 5, 2021
Adidas Revenue Up 51% in Q2
Adidas released second-quarter earnings Thursday, and sales are strong everywhere except China. Quarterly revenue was up 51% year-over-year to $6 billion. Net income hit $470 million, a sharp pivot from the net loss of $349 million during the same quarter last year. It expects sales to increase by up to...
August 4, 2021
Former Nike Manager Sentenced to 31 Months in Prison on Embezzlement Charges
A federal judge on Tuesday sentenced a former Nike Inc. marketing manager to 31 months in prison and three years of supervised release on charges related to embezzlement. Errol Andam, who worked at Nike between 2001 and 2018, was also ordered to pay more than $1.6 million in restitution. FN
August 4, 2021
Hydrow In Talks to Go Public at $1 Billion Valuation
Hydrow, seller of connected fitness rowing machines, is in talks with Sandbridge X2 Corp. to go public via SPAC, which would reportedly value the company at more than $1 billion. Front office Sports
August 3, 2021
Wolverine Acquires Sweaty Betty for $410 Million as It Looks to Expand Digital and Reach More Women
Wolverine World Wide is furthering its goal to expand its digital presence with the acquisition of fitness lifestyle brand Sweaty Betty. The move represents Wolverine’s commitment to e-commerce, which also gives Wolverine a stake in the competitive women’s activewear category. FN
August 3, 2021
Under Armour Raises Full Year Outlook As Q2 Blasts Past Analyst Targets
Under Armour, Inc. surpassed Wall Street’s estimates: revenue was up 91% to $1.4 billion, up 85% currency-neutral, compared to the prior year. Wholesale revenue increased 157% to $768 million and direct-to-consumer revenue increased 52% to $561 million. North America revenue increased 101% to $905 million, and international revenue increased 100%...