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.
-
September 9, 2020
Under Armour Is Laying Off 600 Employees
Under Armour is the latest company in the retail space to resort to mass layoffs as the pandemic continues to take its toll on the U.S. economy. The athletic apparel and footwear maker also raised its restructuring costs for the year by $75 million and now expects to incur about...
-
September 8, 2020
LimeLight Sports buys mass participation company Virgin Sport
Sports marketing group LimeLight Sports has announced its acquisition of Virgin Sport, the five-year-old mass participation events business. The deal means that three of the UK’s top participation events - the Asics London 10k, Oxford Half Marathon and Hackney Half Marathon - will now be run by LimeLight Sports Club,...
-
September 8, 2020
Lululemon quarterly sales top expectations, CEO ‘cautiously optimistic’ for rest of 2020
Lululemon reported surprise revenue growth, despite lockdowns, as stores started reopening and consumers stocked up on workout apparel and yoga accessories. Lululemon’s net income shrank during the second quarter to $86.8 million, or 66 cents a share, from $125 million, or 96 cents a share, a year earlier. Revenue rose...
-
September 2, 2020
Making Gyms Safer: Why The Virus Is Less Likely To Spread There Than In A Bar
America's empty gyms are beckoning the public back for a workout. To reassure wary customers, owners have put in place a variety of coronavirus control measures. The fitness industry is also trying to rehabilitate itself by pushing back against what it sees as a misleading narrative that gyms have no...
-
August 31, 2020
Athleta’s comps soar on strength in active
Athleta’s same-store sales climbed 19 percent in the second quarter as the chain tapped into the overall momentum in active apparel in the quarter, according to the quarterly results of its parent, Gap Inc. Online sales at Athleta grew 74 percent to offset a 45 percent drop in in-store sales....
-
August 31, 2020
In a world without races, how sports nutrition companies are adapting
From supporting runners virtually to donating food to frontline workers, some of your favorite brands have shifted their focus away from competition and toward community. Read more on Runner's World.
-
August 26, 2020
Dick’s Sporting Goods Reports 194% Q2 Increase in Online Sales
A number of sporting goods retailers have reported major boosts to their sales, with people embracing fitness and outdoor activities, while other pastimes are inaccessible. Dick’s Sporting Goods’ digital sales skyrocketed in the quarter running April to June. Online sales, including curbside pickup, grew 194% year-over-year. The company reported that...
-
August 20, 2020
Active Lifestyle All Over 2020 Inc. 5000 List
A number of companies in the active lifestyle space landed on the 2020 Inc. 5000. The magazine’s annual ranking of the fastest-growing private companies in America, a snapshot of how well companies were performing. The companies on this year’s list represent an average three-year growth rate of 165%, an astounding...
-
August 20, 2020
New job roles and expanded carbon tech as AREVO raises US$25m in Series B funding
AREVO, the Silicon Valley company behind the Superstrata custom 3D printed bike concept, has opened up a number of new job positions. The company has been buoyed by a recent US$25 million Series B funding round, bringing its total funding to US$60 million. Read more on Endurance Business.
-
August 17, 2020
Fitbit Premium Reaches 500,000+ Paid Subscribers in First Year
Fitbit announced that Fitbit Premium, its paid membership service that gives guidance to help users move more, manage stress, sleep better and eat well, has reached more than 500,000 paid subscribers in less than a year since launch. Read more on BusinessWire.
-
August 13, 2020
Runner breaks European record, disqualified for wearing NEXT% shoes
Sondre Moen of Norway broke the European one hour track record, running over 21K in an hour and clocking 56:53 in the 20,000m en route, another national record. Unfortunately, the new World Athletics shoe rules had already taken effect, and the shoes he wore disqualified him, and his record did...
-
August 13, 2020
Asics Sales Drop 21.5 Percent In Half
Asics Corp. reported a loss in the six months ended June 30 as sales dropped 21.5%. In North America, sales were down 27.1% but online sales grew 151% in the region. Read more on SGBMedia.
-
August 11, 2020
SoulCycle Just Launched Outdoor Classes Across the U.S. — and They’ll Make You Feel Like You’re Back in the Studio
The boutique spinning studio has launched an outdoor iteration of its cult-favorite workout, aptly named SoulOutside, taking their outside classes to Boston, Hoboken, and Santa Monica, Dedham and Chestnut Hill. The outdoor classes differ from indoor as the music that sets the vibe of the class will be played through...
-
August 11, 2020
How the Pandemic Running Boom Affects Pro Athletes
Runners who are sponsored by smaller companies might be in a better position than those who are signed by major brands. For professional runners, the cancellation of big-ticket races signifies a loss in prospective appearance fees and prize money. Some athletes might also be contractually obligated to run a pre-set...
-
August 11, 2020
Dorel Sports’ Q2 Sales Jump 18.5 Percent
Dorel Industries Inc. reported operating profits nearly tripled at its Q2 segment in the second quarter as sales rose 18.5%. The segment includes Cannondale, Schwinn, GT, Mongoose, Caloi and IronHorse. Revenue was $285.6 million, up $44.6 million, or 18.5% from last year. Excluding the impact of varying foreign exchange rates,...
-
August 11, 2020
Sports Industry Execs Launch NextUp Ventures And NextUp Partners
The executives set to launch the companies include Craig Heisner, formerly at Newton Running and Rob Purvy, formerly at Hoka One One and And1. NextUp Ventures offers capital investment while NextUp Partners provides sports-focused organizations with marketing services. Read more on SGBMedia.
-
August 11, 2020
Gyms Face Consumer Blowback Over Cancellations During Pandemic
Planet Fitness, LA Fitness and Town Sports International are all each facing at least one federal lawsuit related to allegations of charging members while their respective gyms were shut down, and have been singled out on social media by members who had issues canceling their accounts. Read more on Front...
-
August 10, 2020
Jackie Tyson joins Cyclingnews
Cyclingnews announced today that Jackie Tyson has joined the editorial team as online production editor for North America. Tyson founded the sports marketing and public relations firm Peloton Sports in 1998, managing projects for elite and professional cycling clients, including Tour de Georgia, USA Cycling Inc. and Larry H. Miller...
-
August 6, 2020
Adidas Posts $360 Million Loss But Sees ‘Light at the End of the Tunnel’
For the three months ended June 30, the sportswear giant incurred a net loss of 306 million euros, or $362 million at current exchange, compared with the prior year’s income of 462 million euros. Revenues dropped 35% to 3.58 billion euros, or $4.24 billion. During the quarter, sales through the company’s own...
-
August 6, 2020
Mellow Johnny’s ends sales of police bikes
Mellow Johnny’s Bike Shop Austin will no longer will sell bicycles to the Austin Police Department because of concerns over officers using them to control Black Lives Matter protesters. The department purchased between 50 and 100 bikes per year. Read more on Bicycle Retailer & Industry News.
-
August 5, 2020
Fitbit Reports Second Quarter Results for the Three Months Ended July 4, 2020
Fitbit, Inc. reported revenue of $261 million, GAAP net loss per share of $(0.39), non-GAAP net loss per share of $(0.12), GAAP net loss of $(104) million, non-GAAP net loss of $(32) million, cash flow from operations of $33 million, and non-GAAP free cash flow of $28 million for its...
-
August 5, 2020
Merrell and Sperry Parent Handily Tops Forecasts Despite Widespread Store Closures
Amid the coronavirus pandemic, business at Wolverine World Wide Inc. appears to be bouncing back. Reported second-quarter financial results beat analysts’ expectations: For the three months ended June 27, it logged adjusted diluted earnings per share of $0.08, compared with the prior year’s 52 cents. Revenues dropped 38.6% to $349.1...
-
August 5, 2020
Fitbit Sees 17 Percent Q2 Revenue Decline
Fitbit Inc., which has agreed to a merger with Google, reported sales fell 16.7% in the second quarter, to $261.3 million from $313.6 million a year ago. The net loss came to $104.1 million, or 39 cents a share, against a net loss of $68.5 million, or 27 cents, a...
-
August 3, 2020
Emerald Holding’s Q2 Marred By Event Cancellations
Emerald Holding Inc., the parent of Outdoor Retailer, Surf Expo and other trade shows, reported a steep decline in revenues in the second quarter due to event cancellations. To date, Emerald has submitted $95.1 million in claims, $89.1 million of which represents the net amount of budgeted gross revenues less...
-
July 31, 2020
Under Armour warns sales will decline as much as 25% in second half of 2020
Under Armour said Friday that it was “encouraged” by the momentum it has seen in June and July, as its stores are reopening after temporarily being shut. During an earnings call, however, it said revenue could fall anywhere between 20% and 25% in the back half of 2020. Within this...