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.
April 29, 2020
Garmin reports strong revenue and operating income growth for first quarter 2020
Garmin Ltd. announced results for the first quarter ended March 28, 2020. Total revenue of $856 million, a 12% increase, with fitness, marine, outdoor and aviation collectively increasing 17% over the prior year quarter. The company is withdrawing its fiscal 2020 guidance due to the rapid and unpredictable economic changes caused...
April 28, 2020
Shimano reports bike division sales down 15% in Q1; withdraws guidance
Shimano reported that its first-quarter bike division sales were down 15.4% from the same period last year. Operating income in the division declined 26.1%. Check out the earnings numbers at Bicycle Retailer & Industry News.
April 28, 2020
Run specialty stores plot recovery
The owners at Charm City Run, Big Peach Running, Brooklyn Running, and Playmakers talked with SGB Executive about the adjustments they’ve made and their challenges and opportunities ahead in the face of COVID-19. Read more on SGBMedia.
April 27, 2020
I lost my tri job due to COVID-19—Here’s how the industry is coping
Triathlete contributor Jay Prasuhn finds himself unemployed due to the the COVID-19 pandemic. He looks at the various arms to the industry to see how they're coping and adjusting during this trying time. Read more here.
April 27, 2020
Adidas takes massive earnings hit due to coronavirus, warns of even bigger impact next quarter
The Germany-based sportswear giant’s net income for the first quarter plummeted 97% to $21.69 million, with earnings of 14 cents per share. Revenues also decreased 19% to $5.15 billion, with a 20% drop at its namesake brand and a 12% slide at Reebok. Read more on Footwear Daily.
April 23, 2020
Endurance sports sidelined by virus join race for federal relief
The Endurance Sports Coalition has been lobbying for the replenishment of a small business loan program designed to help struggling businesses keep workers on their payroll, in addition to underscoring with lawmakers the industry will need further help. Read more on Bloomberg Government.
April 23, 2020
Skechers’ online business is booming this month— Here’s how much digital could deliver in annual sales
Skechers is proving that it can battle the coronavirus. After reporting solid first-quarter results this afternoon, the Manhattan Beach, Calif.-based company elaborated on its pandemic game plan in a conference call — and it starts with the booming online business. Read more on Footwear News.
April 22, 2020
Under Armour lays off more than 300 at Tennessee distribution center
The one-million-square-foot facility had employed 524 workers. In 2014, the Tennessee State Funding Board approved $6.75 million in state funds for Under Armour to build the Mt. Juliet facility. At the time, Under Armour was expected to employ 1,500 within five years. Read more on SGBMedia to find out where else...
April 22, 2020
Endurance Sports Coronavirus Daily News Updates
Endurance Sportswire is providing timely and pertinent articles and news updates specific to coronavirus and the running, cycling and triathlon industries. NEWS UPDATES 4/22 USOPC to cut up to 20%, says no Olympic games would be ‘devastating’. Read more on HERE. NEWS UPDATES 4/21 USA Track and Field lays off 7;...
April 21, 2020
USOPC to cut up to 20%, says no games would be ‘devastating’
The Associated Press received a copy of a letter CEO Sarah Hirshland sent to leaders across the U.S. Olympic world Tuesday, in which she said cuts of 10 to 20% are “necessary to balance both the current delay in revenue and anticipated decline” that’s expected over coming years. The letter was...