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, 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
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March 6, 2021
Athleta’s Comps Climb 26 Percent In Q4
For the year, Athleta’s sales grew 16 percent and sales surpassed $1 billion. At the close of the year, Athleta finished with 199 stores, opening 11 and closing two during the year. Gap said it plans to open 20 to 30 Athleta stores in fiscal 2021. SGB Media
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March 6, 2021
Before Peloton There Was Spinning®: How 2 Guys Named John Birthed the Unwieldy Fitness Trend
While outdoor cycling may have been seen as a male-dominated sport, in the last decade, indoor cycling has become the domain of women, a stronghold that has transcended exercise trends and is now situated in something akin to women’s lifestyle. Jezebel
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March 4, 2021
Most customers will abandon a brand after three – or fewer – negative experiences, finds study
Customer retention and customer satisfaction could actually play a much larger role in growing revenue. New data shows that customers are abandoning brands after a maximum of three poor experiences, reflecting the need for brands to keep up the quality of their brand interactions. Footwear News
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March 4, 2021
Reebok Appoints VP Of Apparel
Reebok announced the appointment of Portia Blunt to vice president, apparel. Blunt most recently served as director of apparel operations at New Balance. SGB Media
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March 3, 2021
Could Nike and Former Top Exec Face Legal Action Over Resale Saga?
The multi-layered story has exposed the many challenges and opportunities defining the lucrative and, at times, shady world of sneaker resale. It’s brought to light major issues and questions surrounding corporate governance, greed, and power, calling attention to the topic of white privilege. Footwear News
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March 1, 2021
Nike’s North American Head Resigns After Sneaker Resale Story Spotlights Her Son’s Business
Nike VP and GM Ann Hebert made the decision to resign a few days after Bloomberg Businessweek released a story featuring Hebert’s 19-year-old son, Joe, who runs a sneaker resale business called West Coast Streetwear, allegedly capitalizing on the resale boom. Footwear News
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March 1, 2021
Fox wins critical round in long-running patent fight with SRAM
In 2015, SRAM sued RaceFace (which Fox had acquired in 2014) for infringing on two of its chainring patents. Several other brands offering similar chainrings had agreed to license the X-Sync technology from SRAM, but RaceFace took it to court. Bicycle Retailer
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February 26, 2021
Fox Factory Sees Q4 Sales Climb 41 Percent
Reported were a 44.6% increase in Specialty Sports Group sales and a 38.7% increase in Powered Vehicles Group sales. Sales increased 41.2% to $262.4 million, compared to $185.9 million in the same period last fiscal year. SGB Media
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February 25, 2021
A Chicago gym saw dozens of COVID-19 cases after infected people attended HIIT classes without masks
In one week in August, 55 who attended exercise classes at a Chicago gym contracted COVID-19 after only less than a quarter of gym-goers wore masks during their workouts, and almost none socially distanced. Business Insider
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February 25, 2021
Wolverine World Wide Predicts Robust Return To Double-Digit Growth In 2021
In the fourth quarter ended January 2, sales reached $509.6 million, down 16.1 percent year-over-year. Wolverine said sales were significantly better than the company expected. Wall Street’s consensus estimate had been $479 million. SGB Media
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February 25, 2021
Fabletics launches at-home fitness app
Fabletics, which was co-founded by actress Kate Hudson as an e-commerce site in 2013 and now operates 50 stores nationwide, is offering a new fitness app called Fabletics FIT. The app provides access to hundreds of digital experiences, including on-demand workouts and meditations. Chain Store Age
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February 25, 2021
Under Armour Reduces Sponsorship Commitments By 47 Percent
Under Armour Inc. reduced its sponsorship commitments by 47 percent to $361.6 million in 2020 from $679.1 million in 2019, according to its just-released annual report. SGB Media
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February 24, 2021
Fleet Feet adds five stores in 2020, makes key hires
Fleet Feet announced significant growth in 2020 as it added five stores to close with 182 in operation and saw triple-digit growth of its e-commerce site. The franchisor also hired a new head of human resources and marketing and made a number of promotions to support future growth. SGB Media
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February 24, 2021
Polisport Group acquires Catlike helmet brand
The Polisport Group has announced that it has acquired the Spanish helmet brand Catlike in a bid to reinforce its portfolio in the high-end cycling market. Cycling Industry News