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.
June 11, 2021
Shimano forced to shut Malaysia component factory in latest blow to the supply chain
Shimano's factory in Malaysia will be completely closed until at least June 14 due to an official COVID-19 mandate. Since June 1, the factory had been allowed to operate at 60% capacity. Bicycle Retailer
June 8, 2021
Top swimmers unionise in bid for improved athlete rights
Several of the world’s top swimmers have formally established a new independent representative body in a bid to improve athlete rights in the sport and give competitors a greater say in governance matters. SportsPro
June 8, 2021
Sporting Goods Giants Continue Seeing Record Numbers
Academy Sports reported its Q1 earnings Tuesday, highlighting a recent string of record-breaking quarters in the sporting goods industry. The company saw its highest-ever gross margin, increasing 89.2% to $563.7 million. Net sales jumped 39.1% year-over-year to $1.58 billion. But Academy Sports isn’t the only sporting goods store trending upward. Front Office...
June 7, 2021
The Great U.S. Bicycle Shortage
A boom demand, a trade war, and pandemic have combined for major price inflation in the bicycle business. With demand high and supply low, prices for bikes and parts can be 15-25% higher than usual. Front Office Sports
June 7, 2021
Wolverine Worldwide Expects Second Quarter 2021 Revenue To Exceed Second Quarter 2019
Wolverine World Wide Inc. said it expects second-quarter 2021 revenue to exceed 2019 levels due to better-than-expected trends across nearly all brands in its portfolio led by Merrell, Saucony and Sperry. SGBMedia
June 7, 2021
Sport Acuity acquires Tri247 endurance media business
Sport Acuity has acquired a controlling stake in Tri247 – the company behind the 247 group of endurance sport websites. Chief among them is Tri247.com, alongside Run247.com, which are leading platforms for elite to starter athletes. Endurance.biz
June 4, 2021
Bicycle industry sees first stock exchange index tracker
Set to launch on the Frankfurt stock exchange on the 21st of June, the bicycle industry will get its first stock exchange index tracking 20 of the trade’s largest listed names. The index management will be handled by asset management firm Daubenthaler and the index will be called BeneFaktorIndex® Bike. Cycling Industry...
June 3, 2021
Lululemon first-quarter sales rise 88%, topping estimates, as store traffic rebounds
Net income grew to $145 million, or $1.11 per share, from $28.6 million, or 22 cents per share, a year earlier. Excluding one-time charges, Lululemon earned $1.16 a share, better than the 91 cents per shares that analysts estimated. Revenue rose to $1.23 billion from $652 million a year earlier. That...
June 2, 2021
UCI pushes forwards with sustainable development strategy
The Union Cycliste Internationale (UCI) has approved key components of its sustainable development strategy, with guidelines and targets. The UCI’s sustainability guidelines aim to provide practical information on key aspects of sustainability for all its stakeholders – which include its 197 national federations, event organisers and teams – so they can...
June 1, 2021
Meet the team tackling cycling’s garbage problem and eliminating single-use plastics
Canadian women's continental team InstaFund Racing, now in its third season, has set itself the big goal of going almost entirely free of single-use plastic, from June 1. It also aims to work towards having a carbon-neutral footprint from 2022. Velonews