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.
February 11, 2020
Berkshire’s Brooks running unit sues Brooks Brothers over trademark
Brooks, the running shoe and apparel unit of billionaire Warren Buffett’s Berkshire Hathaway Inc, filed a trademark infringement lawsuit against Brooks Brothers, pitting two companies whose roots date back more than a century against each other. Read more on Reuters.
February 6, 2020
Skechers stock soars after Q4 sales beat forecasts, brand warns of coronavirus impact
Shares for Skechers USA Inc. surged in after-hours trading on Thursday after the shoemaker posted fourth-quarter sales that blew past expectations. In its financial report for the period ended Dec. 31, Skechers logged revenues that rose 23.1% to $1.33 billion, compared with analysts’ predictions of $1.25 billion. Earnings per share were in line...
February 5, 2020
Nike, Adidas say coronavirus will hurt business in China
Nike Inc. closed about half of its company-owned stores in China as a result of the coronavirus outbreak, which it expects to have a material impact on operations in the country. Rival brand Adidas AG followed suit Wednesday, saying it has closed a significant number of stores in China and franchisees are doing likewise. Read more...
February 5, 2020
Pioneer sells cycle sports business to Shimano
Cycling power meter specialist Pioneer has signed an agreement to transfer its cycle sports business to Shimano. Shimano plans to develop products, web services and applications using the Pioneer Cycle Sports assets and make Shimano services available to customers who currently use Pioneer’s Cyclo-Sphere web services, PC tool, and smartphone applications. Read more...
February 5, 2020
Peloton Raises Guidance After Cruising To Q2 Beat
In just its second quarterly earnings report since going public, Peloton Interactive Inc. notched impressive earnings and revenue beat as the company grew its number of connected fitness subscribers 96 percent to 712,005 and its total members to more than 2 million. Read what the earnings look like on SGBMedia.
February 4, 2020
Peloton and Flywheel Sports settle litigation cases
Indoor cycling business Peloton has settled its patent infringement case against Flywheel Sports, with Flywheel simultaneously dropping a separate counter proceeding at the U.S. Patent and Trademark office. Within the court documents, Flywheel made the admission that Peloton’s patents were indeed valid and enforceable. The patents relate to Peloton’s “at home”, “remote streaming” and...
January 30, 2020
Asics Ventures invests in smart shoe technology
Asics Corporation announced that its investment subsidiary Asics Ventures Corporation invested in a Japanese startup, No New Folk Studio Inc., the developer of sensing solution Orphe Track which measures and analyses foot movement. Asics, in conjunction with No New Folk Studio, developed a smart running shoe that gives runners real-time...
January 30, 2020
Hoka One One drives parent Deckers Brands to Q3 earnings, sales beat
For the period ended Dec. 31, the company posted Q3 earnings of $7.41 per share, surpassing consensus bets of $6.55 a share. Sales also jumped 7.4% to $938.74 million, compared with Wall Street estimates of $900.43 million. Hoka One One — which outshone sister labels Ugg, Teva and Sanuk — reported sales...
January 21, 2020
More Than Half of Polyester in Adidas’ Sneakers Will Be Recycled This Year
Adidas has achieved a major milestone on the sustainability front. The sportswear giant has announced that more than half of the polyester used in its products this year will come from recycled plastic waste. It also shared plans to use only recycled polyester starting in 2024. Further, the Three Stripes expects to produce...
January 16, 2020
Spartan co-founder Will Dean concedes to bankruptcy process
Will Dean filed a Notice of Consent To Order For Relief And Appointment of a Chapter 11 Trustee. The motion states that he “…will cooperate with the trustee to preserve value for the creditors” and that the Board “consents to a sale of the business to Spartan Race Holdings. Inc.,...
