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.
July 29, 2021
Wolverine Sees Trends Accelerating Toward Hiking, Run And Work
Led by Merrell and Saucony, Wolverine Worldwide’s second-quarter results came in well above Wall Street estimates. In the quarter ended July 3, revenue jumped 81.0 percent to $631.9 million, topping Wall Street’s consensus estimate of $573 million. SGBMedia
July 29, 2021
Silofit secures US $10.25M Series A led by Whitecap Venture Partners
The Series A brings the total funds raised by Silofit to date to CDN $19.4 million. Silofit turns small office spaces into high-end, private micro-gyms (Silos) that are used by fitness trainers and their clients, and individual gym-goers. Silofit will use the new funds to support its expansion to the...
July 29, 2021
WM Partners Announces Acquisition of Vega
Vega is a pioneer of the plant-based nutrition industry and a leading brand in plant-based protein powder in both the U.S. and Canada. HPH II is focused on acquiring middle market companies with leading brands in the health and wellness sector, with a specific focus on the functional foods, natural personal care,...
July 29, 2021
Cyclist’s Olympic Dream Becomes $200,000 Medical Bill Nightmare
It was a race in Pennsylvania that could have sent cyclist Phil Gaimon to the Tokyo Olympics; instead, a serious crash landed the Californian in two hospitals on the East Coast. NPR
July 28, 2021
Garmin Q2 Earnings and Revenues Beat Estimates
Garmin posted revenues of $1.33 billion for the quarter ended June 2021, surpassing the Zacks Consensus Estimate by 23.87%. This compares to year-ago revenues of $869.87 million. The company has topped consensus revenue estimates four times over the last four quarters. Yahoo Finance
July 27, 2021
Fabletics launches resale program
Fabletics is the latest retailer to delve into resale as the trend proves to be attractive to sustainability-minded consumers. And, like many other apparel retailers, Fabletics is partnering with ThredUp's resale-as-a-service platform to power the logistics. RetailDive
July 27, 2021
Asics Invests In Insole Maker
Asics has taken an unspecified stake in healthcare startup, Japan HealthCare Co., Ltd., which makes custom insoles working from photos of feet taken by smartphone. SGBMedia
July 27, 2021
Shimano earnings up; bike division not impacted by part shortages
Shimano only briefly mentioned the global bicycle part shortages in a typically terse first-half financial results announcement, which reported that sales in its bicycle product division were up 73.4% in the first half of its fiscal year, compared to the same period in 2020. Operating income in the bicycle division...
July 23, 2021
Obé Fitness, Nets $15 Million in New Investment as Samsung Next, Athleta and Actress-Comedian Tiffany Haddish bet on Home-Fitness
Even as people return to the gym, digital fitness businesses like Obé think they can expand. Its Disney tie-ins help. Athletech News
July 22, 2021
SEC Halts Alleged Ongoing Offering Fraud Involving Cycling Companies
Arrested: Samuel Mancini managed and controlled Outdoor Capital Partners LLC (OCP), which he purported to be a venture capital and private equity firm, and promised investors that he was raising $20 million, including $5 million of his own money, for OCP Italia to invest solely in acquiring controlling interests in...
