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.
May 21, 2024
Peloton Taking Out $1B Loan as Part of Refinancing Effort
On Monday, Peloton announced that it intends to enter into a series of financial transactions including a $1 billion, five-year loan, the issuance of $275 million in convertible senior notes and a $100 million, five-year revolving credit facility. In total, Peloton will get around $1.4 billion in new credit from the transactions. The...
May 17, 2024
Nike Could Be Losing Its Lead in Online Running Shoe Traffic, Similarweb Data Shows
Nike is falling behind running shoe competitors when it comes to website traffic growth. Between March 2022 and March 2024, traffic to Nike.com’s running shoe category has declined steadily, according to web traffic data complied by Similarweb. Whereas the Swoosh’s running segment had double the amount of traffic of its competitors in...
May 14, 2024
EXEC: Giant Group Sees Improving Bike Picture as April Shipments Close to Flat
The Giant Group reported a sharp moderation of sales declines in April 2024 as shipments dipped just 1.75 percent year-over-year to NT$6.91 billion. The decline was the smallest year-over-year decrease in sales since April 2023, when sales grew 20.3 percent to NT$7.03 billion. January 2024 sales were down 17.7 percent, February sales were...
May 14, 2024
EXEC: On Holding Shares Hit 52-Week Highs as Q1 Results, DTC Gains Please the Street
On Holding AG pushed first quarter net sales past the half billion Swiss francs (CHF) mark for any quarter in its relatively short history, and did so with nearly 30 percent growth for the period ended March 31. The strong Q1 results made Wall Street forget about the tumultuous day...
May 13, 2024
Rich Running Fan Pays Boston Marathon Winner After Organizers Still Haven’t
Buzunesh Deba was named the official winner in 2016 after Rita Jeptoo was disqualified for doping. But the Boston Athletic Association has held up paying her the $100,000 she’s due—$75,000 for winning and $25,000 for setting a course record—because it’s been unable to recover the money from Jeptoo. The Wall Street Journal wrote about Deba’s...
May 13, 2024
Is Bike Retail on the Road to Recovery?
Encouraging quarterly results from Fox Factory, Shimano, MIPS, and Thule as well a favorable reports from Circana and PeopleForBikes offers some optimism that the bike industry may be finally moving past its crippling destocking phase to resume growth in the second half. However, the National Bicycle Dealers Association (NBDA) still...
May 10, 2024
Asics Delivers Q1 Wholesale Growth in North America, Bolstered By Speciality Run Channel
Asics North America got a lift in wholesale sales during the first quarter of 2024. And U.S. sales in the specialty run channel were a large part of that. The Japan-based athletic brand‘s sales in the United States, Canada and Mexico all saw double-digit growth in the quarter compared to the prior...
May 10, 2024
World Triathlon and PTO announce new anti-doping measures for long distance triathlon
World Triathlon and the Professional Triathletes Organisation (PTO) have announced new anti-doping measures, including a growing, global Registered Testing Pool (RTP) that will see athletes tested in and out of competition for the new T100 Triathlon World Tour. It will be delivered by the International Testing Agency (ITA) acting on...
May 7, 2024
Private equity firms circle Peloton for potential buyout
A number of private equity firms have been considering a buyout of Peloton as the connected fitness company looks to refinance its debt and get back to growth after 13 straight quarters of losses, CNBC has learned. Firms have zeroed in on how to cut Peloton’s operating expenses to make a buyout...
May 2, 2024
Fox Factory Posts Q1 Loss as Sales Fall in Mid-Teens, Bike Sales Post $65M Decline
Fox Factory Holding Corp. reported a 16.6 percent decrease in net sales for the first quarter to $333.5 million compared to net sales of $399.9 million in the first quarter of fiscal 2023. Aftermarket Applications Group (AAG) net sales declined $36.9 million, or 26.6 percent, year-over-year. The decrease in AAG...