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 29, 2021
Peloton Strikes Deal with Verzuz
The popular connected fitness company struck a deal with Verzuz, the music competition venture started by multiplatinum-selling producers Timbaland and Swizz Beatz. The collaboration will feature workouts set to a playlist from the dueling artists, starting with R&B legends Brandy and Monica, followed by a battle between the Verzuz founders. Front Office...
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March 25, 2021
Bike-share companies can take a lesson from China
A few years ago, the bike-share industry in China was the hottest thing, but as companies rushed to cash in, they quickly learned that saturating the market would lead to failure and the bubble popped. Bicycle Retailer
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March 25, 2021
The Running Boom Continues: How Asics, New Balance and Saucony Plan to Win in 2021
Here is a more detailed look at the running landscape and what it will take for brands to win in this year and beyond. Footwear News
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March 23, 2021
Peloton Buys Wearables, AI, Hardware Companies in Deal Flurry
Peloton Interactive Inc. recently acquired three companies, adding technology and expertise in wearable devices, artificial intelligence, digital voice assistants, and interactive workout mats. The New York-based fitness technology company bought Aiqudo Inc. in February, and Atlas Wearables Inc. and Otari late last year. Bloomberg (paywall)
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March 22, 2021
Nike posts mixed results as sales fall short of estimates, hurt by U.S. port congestion
Nike reported net income of $1.45 billion, or 90 cents per share, compared with $847 million, or 53 cents per share, a year earlier. In North America, revenue dropped 10% year over year, hurt by shipment delays. CNBC
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March 22, 2021
How the Women Leading the Running Industry Diversity Coalition Are Using Sport to Create a Better Tomorrow
Created as an agent for change, the Running Industry Diversity Coalition is led by several of the most inspiring women run today. Read how they are using their connection to the sport to create a better world. Footwear News
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March 22, 2021
SRAM sues Princeton CarbonWorks over wheel shape
SRAM claims that PCW is infringing on its patent for a rim shape inspired by a humpback whale flipper. VeloNews
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March 18, 2021
Nike Beats Earnings but Misses Revenue Estimates Amid Port Congestion Delays and Store Closures
For the three months ended Feb. 28, the sportswear giant logged earnings that rose 71% to $1.4 billion, or 90 cents per share, trouncing the 76 cents per share analysts predicted. Revenues, on the other hand, increased 3% to $10.4 billion but fell sizably short of analysts’ forecasts of $11.02...
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March 18, 2021
L.A. cycling studios are reopening. Can they pry people away from their Peloton bikes?
According to a recent survey by Wedbush, 20% of pre-pandemic gymgoers have purchased at-home gym equipment — a brand-new chunk of the market that could pose a huge threat to bricks-and-mortar operations. In addition, 12% of pre-pandemic gymgoers said they were somewhat likely to cancel or not renew their gym...
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March 17, 2021
Electric bike sales in the U.S. grew 145% from 2019 to 2020
Spurred on by the coronavirus pandemic, bicycle sales rose 65% in the United States between 2019 and 2020, according to a report in the New York Times. Researchers at the NPD Group, which supplied the findings, also claim that electric bike sales grew by 145% in the same period. Cycling Industry...
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March 16, 2021
Athletes react to Nike pregnancy ad
While the ad is a step in the right direction for the company, many athletes, including Allyson Felix, Kara Goucher and Alysia Montaño, are criticizing Nike for not acknowledging their past treatment of pregnant female athletes. Canadian Running Magazine
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March 16, 2021
Meet the Women Creating a More Egalitarian Future in Running
From athletes to activists, business innovators to community organizers, these women are revolutionizing the future of running to make for a more equal society in sport and life. Podium Runner
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March 16, 2021
Adidas and Peloton join forces with hints at a clothing range
Adidas announced a collaboration with Peloton last week, but so far the brand has been vague on details. However, Peloton’s top class instructor Cody Rigsby led a class wearing Adidas kit and announced during the ride that it was “a celebration of the launch of our new Adidas X peloton...
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March 14, 2021
The Future of the Post-Pandemic Gym
Seven fitness futurists describe what gyms will look like after Covid-19. Men's Health
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March 14, 2021
Dorel Sports revenue hits $1.04 billion in 2020, up 15%
While revenue was up, Dorel says supply constraints, increased shipping costs and CSG's switch to calendar-year models impacted Q4 profits. Dorel Sports bike brands include Cannondale, Schwinn, GT and others. Bicycle Retailer
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March 11, 2021
Adidas Pivots to China and E-Commerce
In a five-year plan released alongside its Q4 earnings on Wednesday, Adidas said it plans to double e-commerce sales to between $9.5 billion and $10.7 billion by 2025. The company will invest over $1.2 billion in the digital transition. Front Office Sports
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March 11, 2021
Bicycles are harder to find, more expensive thanks to biggest cycling boom in decades, shops report
the last time the bike industry experienced a similar run was during the energy crisis of the 1970s. Cleveland.com
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March 10, 2021
Foreign Spectators Won’t Be Allowed to Attend Tokyo Olympics
After months of speculation, Japan has decided to deny foreign spectators from attending the Tokyo Olympics and Paralympics. The Summer Games were expected to host around 1 million foreign spectators. Front Office Sports
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March 10, 2021
Broken Chain: Small and new brands hard hit by component shortage
Most have heard stories about extended delivery times for bikes and components from Asia. What's been less obvious is how those delays are harming some of the industry's smaller and newer brands. Bicycle Retailer
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March 10, 2021
New Sports Tech VC Fund Vies To Capture Its Piece Of A Soon-To-Be $30 Billion Industry
leAD Sports & Health Tech Partners and InStudio Ventures teamed up to create The Draft, a U.S.-based seed and venture capital fund focusing on sports tech. Forbes
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March 9, 2021
Nike Names New North America Head Following Sneaker Resale Saga
Nike Inc. has named a new head for its North America business, as well as made changes to its senior leadership team, following the sneaker resale saga that dominated headlines last week. The sportswear giant announced the appointment of Sarah Mensah, who steps in as VP and GM of North...
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March 9, 2021
Echelon Announces Connected Bike Exclusive to Sam’s Club
Just months after its mishap with Amazon, Echelon announced that its Echelon Sport-s connected bike is available exclusively at Sam’s Club for $799 and includes a free six-month trial of its Sport membership. Front Office Sports
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March 9, 2021
Dick’s Sporting Goods Posts Quarterly Earnings Beat but Outlook Suggests Slower Sales in 2021
Dick’s Sporting Goods Inc. logged better-than-expected fourth-quarter financial results but provided an outlook that suggested a slowdown in sales for the year ahead. For the three months ended Jan. 30, the Coraopolis, Penn-based retailer recorded profits of $225 million, or earnings of $2.43 per share, versus the prior year period’s...
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March 9, 2021
How virtual cycling platform Zwift created an enduring new esport
It’s not just a pandemic pastime. Zwift’s gamified version of e-cycling is here to stay. Fast Company
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March 8, 2021
How Gyms Found a Way Through the Pandemic
Many gyms have closed during the pandemic, but some have found creative ways to persist. Fifty-four million Americans have received at least one COVID-19 vaccination shot as of last Thursday, and with that comes more people getting back to pre-pandemic routines, including going to the gym. Front Office Sports