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.
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March 14, 2022
F45 Training’s Sales Grew 63 Percent In 2021
F45 Training Holdings Inc. reported sales grew 242 percent in the fourth quarter and 63 percent in the fiscal year ended December 31. Total revenue increased $51.7 million, or 63 percent, to $134.0 million from $82.3 million as compared to the prior year. SGB Media
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March 9, 2022
New Balance and District Vision Launch Mental Health Awareness Courses accompanied by an Exclusive Collection
New Balance has officially launched a collaboration with Los Angeles-based inner peace collective, District Vision, with a collection of technical apparel and footwear, and a series of micro-courses that aim to provide consumers with tools designed to increase mental health awareness through running. The micro-courses focus on education through a...
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March 9, 2022
Therabody Files Six Lawsuits To Protect Its Intellectual Property
Therabody announced the filing of a lawsuit against the TJX Companies and five additional lawsuits against unauthorized Amazon resellers for patent and trademark infringement on its Theragun and related proprietary technologies. Filed in the U.S. District Courts of California, Delaware, Florida, Texas, and New York, the lawsuits are in addition...
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March 9, 2022
Adidas Warns That Russia Conflict Could Impact 2022 Business as it Halts Sales in the Region
Adidas is one of many retailers expecting to see a hit from sales due to impacts from Russia’s conflict with Ukraine. The German sportswear retailer on Wednesday shared an updated outlook for fiscal year 2022 that takes into account a risk of up to €250 million, or about $275 million...
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March 9, 2022
SRAM acquires cycling clothing brand Velocio?
It appears the silly season of mergers and acquisitions is continuing with another announcement involving SRAM. Just over a month ago, SRAM announced that it had acquired the cycling computer brand Hammerhead. Now, we’ve received word through Velocio that they’ve just sold to SRAM as well. Bike Rumor
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March 8, 2022
Dick’s SG’s Again Tops Expectations In Q4
Dick’s Sporting Goods reported earnings on an adjusted basis grew 50 percent in the fourth quarter ended January 29 on a 5.9 percent same-store sales gain. Both earnings and sales topped Wall Street’s guidance, with the period marking Dick’s largest sales quarter. Earnings are expected to decline in the current...
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March 7, 2022
Fitness Chain Virgin Active Expands Amid $118M Capital Raise
London-based fitness chain Virgin Active is expanding from a gym company to a wholesale “combined fitness and nutrition” operation. To do so, the company has made two major moves: a capital raise and an acquisition. The capital raise totaling $118 million included retail billionaire Christo Wiese — who contributed $65.6...
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March 7, 2022
Accell Group’s Revenues Climb 6.2 Percent In 2021
Accell Group reported EBIT grew 47 percent in 2021 on a 6.2 percent sales gain. Net sales of €1,377 million, up 6.2 percent despite ongoing component shortages. Growth was driven by higher sales of parts & accessories, mainly volume-driven, and higher bicycle sales due to improved pricing and mix offsetting...
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March 3, 2022
iFIT Raises $355 Million, Settles Lawsuit, Lays Off Staff
iFIT Health & Fitness, Logan, Utah, raised $355 million in capital, settled a lawsuit with an investor, installed new leadership and laid off an undisclosed number of staff members, the company announced. Club Industry
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March 3, 2022
Peloton ex-CEO John Foley sells $50 million in stock to Michael Dell’s investment firm
Peloton co-founder and ex-CEO John Foley has sold about $50 million in stock to an investment firm backed by Michael Dell, MSD Partners, according to a securities filing. The sale involved about 1.92 million shares, the Wednesday filing said. Foley still owns enough after the sale to maintain effective voting...
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March 2, 2022
Alexandre Geniez gets four-month suspended prison sentence for domestic violence
Alexandre Geniez (Team TotalEnergies) was given a four-month suspended prison sentence on Wednesday when he was found guilty of domestic violence against his wife at the time Lucie Garrigues. Garrigues was with Geniez from 2013 to 2020, and she is the mother of their two children. Velo News
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March 2, 2022
Ukrainian cycling coach and father of recent national champion killed in war; former pro Andriy Grivko working to help country’s cyclists
The Russian invasion in Ukraine has claimed the life of one of the country's national cycling coaches, who was also the father of the rider who won the men's National Road Race Championships in 2019. Alexander Kulyk was killed on Tuesday in Kyiv during a mission to help evacuate people...
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March 1, 2022
Lizard Skins and BOA parent delivers record results
Compass Diversified, the parent group to Lizard Skins and BOA Technologies, among many other middle market labels, has reported a record year in its FY21 results, with annual sales reaching $1.842 billion. Both relatively new additions to the Compass portfolio, Lizard Skins and BOA are already making their contributions with the...
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February 28, 2022
Longtime iFIT CEO steps down from Logan company amid layoffs and leadership shake-up
Logan-based iFIT Health & Fitness has followed deep staff cuts announced Friday with a shake-up of its leadership, including the departure of longtime CEO Scott Watterson. Watterson, an iFIT co-founder who has worked 45 years with the exercise equipment maker, will remain in his role as chairman of the board...
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February 25, 2022
Fox Factory reports 57.8% rise in cycling product sales
Fox Factory this week reported sales for the year ended December 31, 2021, were $1,299.1 million, an increase of 45.9% compared to fiscal year 2020. With the release of Fourth Quarter and Fiscal 2021 Financial Results, Fox saw Specialty Sports Group sales (largely made up of bicycle industry trade) increase...
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February 24, 2022
Planet Fitness Reports Gen Z Boost in Memberships
In reporting Q4 earnings, Planet Fitness announced it’s made major gains with one age demographic in particular: Generation Z. The generation — which encompasses people born between 1997 and 2012 — is signing up for gym memberships at higher rates than any other age group. The reason? The pandemic. Gen Z’ers...
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February 24, 2022
Dan Sheridan, a 24-Year Veteran at Brooks, Has Been Promoted to President
Sheridan, who has held the EVP and COO titles with the running-focused company for the past three years, has been elevated to president and COO. With the new role, Brooks said via statement that Sheridan will partner with Weber to support the continued growth of the brand, and will continue...
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February 23, 2022
Two Years After Ahmaud Arbery’s Murder, the Running Industry is Slowly Changing
Almost two years ago, thousands of people around the world vowed to “finish the run” in memory and in honor of Ahmaud Arbery, the 25-year-old Black man from Brunswick, Georgia, who was murdered on February 23, 2020, by three white men who chased him down in a pickup truck and...
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February 23, 2022
Wolverine Delivers Revenue Growth of Nearly 25% in Q4 as Merrell, Saucony Hit 2021 Sales Records
Wolverine Worldwide reported strong fourth quarter and fiscal 2021 results as the footwear conglomerate faced supply chain challenges head on. The company – which owns Merrell, Saucony, Sperry, Keds and more – saw revenues of $635.6 million in the fourth quarter of 2021, up 24.7% versus the prior year. As...
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February 22, 2022
Brooks Is Now a Billion-Dollar Brand
The running brand broke sales records in 2021 and ended the year with global revenue in excess of $1.11 billion, marking a 31% percent increase from 2020. In North America, revenue was $889.1 million, representing a 33% growth from 2020. The company’s e-commerce channels in North America grew 149% compared to...
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February 21, 2022
Harley-Davidson report $41.3 million in e-bike sales is just the start
As part of it’s yearly financial reporting, Harley-Davidson has disclosed that the LiveWire brand, which it launched in 2019 with an electric motorcycle of the same name, made $41.3 million from children’s e-bicycle sales across 2019, 2020, and the first 3 quarters of 2021. Cycling Industry
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February 18, 2022
Leaked email outlines Nike’s new return-to-office plan, which ‘happily’ coincides with the brand’s 50th anniversary
Most Nike workers will return to the company's US offices in time to celebrate the brand's 50th anniversary. The sportswear giant sent an email to employees Wednesday outlining the company's new "phased return" to its offices. A copy of the email was reviewed by Insider. Business Insider
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February 17, 2022
Former Portland Marathon president indicted for fraud, tax evasion
A federal grand jury in Portland charged the former president and event director of the Portland Marathon on Thursday for defrauding the charity, Acting U.S. Attorney Scott Erik Asphaug of the District of Oregon announced. The jury charged 80-year-old Lester V. Smith of Tomball, Texas with wire fraud and tax evasion....
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February 16, 2022
Despite flat fitness sales, Garmin has record-setting revenue growth
Garmin Ltd. reported record revenue for the year and in the fourth quarter despite flat fitness sales that include cycling products. Revenue for the quarter increased 3% to $1.39 billion compared with $1.35 billion at the same time last year. For 2021, revenue was up 19% year-over-year, rising from $4.1...
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February 16, 2022
Trek Bicycle Buys Wisconsin Off Road Series
Trek Bicycle has purchased the Wisconsin Off Road Series (WORS). With Don Edberg’s recent retirement, Trek has stepped in to manage the series and build growth. SGB Media