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.
November 28, 2023
PEARL iZUMi and Nathan owner, United Sports Brands, acquired by Norwest Equity Partners
Norwest Equity Partners (NEP), a middle market investment platform founded in 1961, has acquired United Sports Brands (USB), which has a diverse portfolio of sporting goods and active lifestyle brands. The transaction closed on November 20, 2023, and financial terms were not disclosed. USB products are sold by leading retailers...
November 27, 2023
Performance Footwear From Hoka and On Helped Drive Shoe Sales During Thanksgiving Week, According to New Data
The U.S. footwear market had its best week of the season the week of Thanksgiving, with dollar sales down just 1 percent versus last year. Footwear’s improved results over the holiday week were driven by performance shoes. More specifically, performance shoes saw dollar sales increased by 10 percent in the...
November 21, 2023
Dick’s Sporting Goods reports record Q3 net sales of $3.04 billion
Dick's Sporting Goods' third-quarter net sales increased 2.8% year-over-year to a record $3.04 billion. Net income for the quarter was $201 million, down 11.8% from $228 million year-over-year. Earnings per share decreased 16.3%, from $2.94 to $2.46. BRAIN
November 16, 2023
Athleta’s Q3 Sales Tumble 18 Percent
Gap, Inc. reported sales at its Athleta banner were down 18 percent in the third quarter to $279 million with same-store sales sliding 19 percent. Gap said in a press release, “Sales in the quarter continued to be challenged as the brand laps last year’s elevated discount levels and the...
November 16, 2023
Omorpho Raises $3M More for Weighted Fitness Vests, Apparel
Strength training may be the top fitness and wellness trend of 2024, but what if a weighted vest could accelerate results? Enter Omorpho, an Oregon-based micro-weighted fitness startup that has just closed a $3 million funding round to grow its direct-to-consumer and retail segments. The funding brings Omorpho’s total investment...
November 14, 2023
On Running boosts 2023 outlook, tops Q3 earnings estimates
On Holding (ONON) reported its third-quarter earnings, with the apparel company posting $543.8 million in quarterly revenue, exceeding an expected $518 million from analysts. The company boosted its outlook for the rest of the year, expecting full-year revenue of $2.03 billion. Yahoo Finance Anchors Brad Smith, Seana Smith, and Executive...
November 13, 2023
TriBike Transport In Crisis, Future Uncertain
TriBike Transport is struggling to re-establish financial footing today, with some athletes' bikes in transit facing an uncertain destiny, while IRONMAN stepped in to backstop the fate of athletes traveling to and from its events. Below is the immediate situation facing athletes who have recently used or intend to use...
November 9, 2023
Raleigh set for restructure and job cuts
British cycling brand Raleigh has announced that it will be making job cuts alongside an internal restructuring. Attributing the changes to a challenging market, the company will be shutting down its parts and accessories department as well as outsourcing its warehousing and logistics. In an interview with ITV, a spokesperson...
November 9, 2023
Wolverine Sees New Round of Layoffs as It Looks to Further ‘Streamline’
Wolverine Worldwide is accelerating its transformation plan as it looks to “streamline” the organization. As part of this plan, the Rockford, Mich.-based footwear company on Thursday revealed a new global workforce reduction and organizational redesign. While Wolverine has not disclosed the number of employees affected by this move, the company...
November 9, 2023
Can Specialty Run Handle More Competition? Is the ‘Super Shoe’ Here to Stay? + More Burning Questions for the Running Market
The running market continues to be the hot spot in athletic footwear, and everyone wants a piece of it. For instance, Nike, which had been prioritizing its direct-to-consumer channels, renewed its partnerships with non-athletic retailers Macy’s and DSW earlier this year. And Hoka — FN’s Brand of the Year and...