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.
November 5, 2020
Wolverine Eyes Market Share Gains At Saucony And Merrell Amid Pandemic
In the third quarter ended Sept. 26, revenues declined 14.1% to $493.1 million due to the pandemic’s ongoing impact. On a constant-currency basis, revenue was down 14.6%. Net earnings fell 55.3% to $21.7 million. Reported operating margin was 8.6% compared to 11.9% in the prior year. Adjusted operating margin was...
November 4, 2020
Fitbit’s Q3 Revenues Expand 5 Percent
Fitbit Inc., which reached an agreement to be acquired by Google, reduced its loss in the third quarter as sales grew 4.8%. Revenue reached $363.9 million against $347.2 million a year ago. The net loss shrunk to $54.5 million, or 20 cents a share, from $51.9 million, or 52 cents,...
November 3, 2020
The 50 Best Places to Work in 2020
Work life got turned upside down this year, and many people are just thankful they have any job at all. But some companies have gone above and beyond to not just survive, but thrive. Outside lists the 50 places which topped the list.
November 3, 2020
Nike Is Now Laying Off 700 — Not 500 — Workers at Oregon HQ
The Swoosh, which indicated in a WARN notice in July its plans to lay-off 500 HQ workers, has upped that number to 700 job cuts, and expects to complete the staff reductions by Jan. 8, 2021. Read more on Footwear News.
November 2, 2020
Emerald Holding takes earnings beating on cancelled shows
You know them for your favorite trade shows that didn't happen this year including Outdoor Retailer, SurfExpo and others. The company reported revenues of $8.5 million in the third quarter ending September 30 compared to revenues of $75.6 million for the third quarter of 2019, a decrease of 88.8 percent....
November 2, 2020
Under Armour is selling MyFitnessPal and exiting stores
While other companies are "all in" on fitness platforms primarily resulting from the growing online workout boom, Under Armour is taking a loss on its MyFitnessPal acquisition it made just five years ago for $475M. The company is selling the diet- and exercise-tracking app to investment firm Francisco Partners for...
October 29, 2020
Skechers (SKX) Tops Q3 Earnings and Revenue Estimates
Skechers came out with quarterly earnings of $0.53 per share, beating the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $0.67 per share a year ago. Skechers posted revenues of $1.30 billion for the quarter ended September 2020. Read more on Zacks.
October 29, 2020
Wall Street suddenly loves bike companies thanks to cycling boom
In October, Canyon, a high end, direct-to-consumer bike brand, announced that it was in talks with private equity and buyout firms. A sale could bring in $592 million and start a trend. Find out what other companies are making waves here.
October 29, 2020
Lululemon Wants to Achieve Full Pay Equity for Gender and Race by 2022
The athletic apparel and accessories chain announced today that it has developed a long-term strategy to become a more equitable business through inclusion and diversity, as well as minimize its environmental impact. It set 12 ambitious goals, which involve commitments to invest $75 million into wellbeing programs by 2025, expand...
October 29, 2020
Hoka Drives Stellar Quarter for Deckers Brands
Deckers Brands posted a monster quarter with sales rising 14% in constant currency, driven by 83% growth in its running brand Hoka One One. The brand, which has been on a tear for quite some time, increased 83% to $143 million. Nearly every brand in the company portfolio grew during the...
