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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June 10, 2020
Trek, Specialized move to boost diversity
Two of cycling’s biggest brands — Trek and Specialized — vow to promote diversity in the cycling community. Read more on VeloNews about how they are contributing and what Trek has to say about its police bike program.
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June 10, 2020
CrossFit CEO steps down after release of controversial Zoom call
Greg Glassman stepped down as CEO of CrossFit shortly after a report said the founder of the fitness company made several controversial statements during a private Zoom call with gym owners. Glassman's statements on Zoom were reportedly made just hours before he sent a tweet that appeared to make light of...
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June 9, 2020
24 Hour Fitness starts to reopen, but S&P downgrades debt rating and potential bankruptcy looms
Gym giant 24 Hour Fitness Worldwide has nearly four million members for its 440 clubs in 14 states, but the coronavirus has been a crippling blow for the chain since it announced the closing of all of its clubs on March 16. Franchises recently reopened in Dallas and Houston, and...
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June 8, 2020
Why we can’t (or won’t) let Lance Armstrong go
The recent ESPN 30 for 30 documentary highlights why we're still fascinated by Lance Armstrong. Read more on Triathlon Magazine.
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June 8, 2020
Fuji Bikes suspend sale of American police bikes used in ‘violent tactics’ during protests as Trek faces criticism
Fuji said seeing its bicycles deployed in this manner during the George Floyd protests went against their intended use. Read more on Cycling Weekly.
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June 8, 2020
The Power List: The 50 most influential people in cycling
Here is this year's list of the riders, managers, agents, and stakeholders who pull the strings of the sport according to Cycling News.
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June 4, 2020
Nike’s ‘For Once, Don’t Do It’ ad seen as empowering, exploitative: study
Nike's "For Once, Don't Do It" ad was perceived as empowering by 60% of respondents in a recent Ace Metrix study shared with Marketing Dive. The spot, released on May 29, serves as the company's response to George Floyd's murder and subsequent protests around the world. Read the rest of the study results...
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June 3, 2020
Banned track coach Salazar gets court date for doping appeal
Banned track and field coach Alberto Salazar will try to overturn his four-year suspension at sport’s highest court in November. The Court of Arbitration for Sport said Tuesday it will hear appeals from Salazar and endocrinologist Jeffrey Brown between Nov. 8-16. Read more on Associated Press.
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June 2, 2020
Dick’s online growth accelerates In Q1, in-store regaining momentum
Dick’s Sporting Goods joined most other retailers in reporting a steep loss in the first quarter due to the coronavirus pandemic. Online growth, however, accelerated with a boost from curbside pickup, and in-store sales are showing a nice recovery as stores reopen. Find out what their earnings were at SGBMedia.
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June 1, 2020
A directory of brands and retailers that have spoken out against racism
in light of recent events, including the deaths of George Floyd, Breonna Taylor and Ahmaud Arbery, Gear Patrol has put out a growing list of brands and retailers who have spoken out against systemic racism and their public statements.
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June 1, 2020
Bikes have won big in pandemic equipment sales
Gear sales have gone topsy-turvy since the crisis began, with some sectors up and others disastrously down. But through it all, bikes have soared. Read more on SNEWS.
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May 28, 2020
Fitness trainers reimagine their business model during the pandemic
Most fitness professionals saw their businesses come to a lurching halt when the epidemic struck. Many have pivoted and created an even more successful business model. Read more in New York Times.
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May 28, 2020
Peloton CEO John Foley talks cheaper bikes and making the most of staying home
In this interview, Foley discusses his contrarian view of physical retail stores (he plans to use the pressure on malls and retailers to add more premium locations to Peloton’s nearly 100 retail stores world wide). He also discussed plans to make the company’s bike, which retails for $2,245, or $58...
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May 28, 2020
Why small businesses are starting to say ‘No Thanks’ to the government’s PPP loans
The Small Business Administration’s Payroll Protection Program — introduced in March as part of the $2.2 trillion CARES Act, to provide loans to companies impacted by the coronavirus pandemic — has been a boon to many struggling business owners. But not everyone is opting in. Read why and what changes are being...
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May 27, 2020
Lance Armstrong says it’s “time for the riders to seize power”
At a time when all the key stakeholders desperately want to see cycling restart, the chances of disrupting or overhauling the legacy constraints of the sport – and enriching its future – may well be greater right now than ever before. Read more on VeloNews.
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May 26, 2020
SFIA survey underscores industry’s struggles
Over 70 percent of sports and fitness manufacturers and businesses reported a sales drop of over 25 percent for the month of April as most of the country’s stores were closed to prevent the spread of the coronavirus, according to a survey of industry participants by the SFIA. But the...
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May 25, 2020
Asics North America sees double-digit sales decline
Asics North America (ANA), which includes the U.S., Canada and Mexico, said sales in the U.S. were down 18.4 percent year-over-year in the first quarter. Canada and Mexico were down 5.5 percent and 10 percent year-over-year in the local currency respectively. Asics U.S. saw a year-over-year decrease of 14.2 percent in...
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May 20, 2020
Gyms reopen with new coronavirus rules in Hong Kong
As gyms around the world begin to reopen after closures due to the coronavirus pandemic, many have implemented Covid-19 safety measures. Check out this video of a gym in Hong Kong.
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May 20, 2020
Running Industry Association provides a current snapshot of COVID-19’s impact on the run specialty channel.
The latest survey with run specialty retailers outlines the significant negative impact the pandemic has had on businesses. Access the full report here.
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May 19, 2020
Marathon racing brings big money to cities across America. Some events may not survive the pandemic
In this segment of the series, “The Next Normal,” CNBC examines what happens to the highly popular running industry as thousands of races have been cancelled, and what races of the future might look like. Read this in-depth article here.
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May 18, 2020
Thinking of buying a bike? Get ready for a very long wait.
The United States is facing a shortage of bicycles as anxiety over public transportation and desire to exercise has sent the demand surging. Read more in New York Times.
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May 18, 2020
Cycling sales surge in first quarter
Cycling sales increased 31 percent to $1.3 billion in the first quarter of the year, according to NPD. Find out what types of bikes made the biggest jump in sales on SGBMedia.
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May 13, 2020
70% of US Olympic sports applied for PPP funds
The Associated Press surveyed 44 of the country’s national governing bodies (NGBs) and all but four of the 36 NGBs that responded said they had applied for assistance from the Paycheck Protection Program. Not all the organizations revealed how much they received, but those who did have been approved for...
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May 11, 2020
Under Armour sales plummet 23% as coronavirus stalls turnaround plans
The company expects revenue could be down as much as 50% to 60% during the second quarter, as demand for its merchandise remains constrained. Read the numbers on CNBC.
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May 11, 2020
Dorel Sports reports fourth consecutive quarter of revenue growth
Dorel Sports has reported its fourth consecutive quarter of revenue growth in the first quarter of 2020 at $188.2 million, an increase of $3.6 million, or 2.0%, compared to a year ago. Sales improvements were at Cycling Sports Group (CSG) and Pacific Cycle (PCG), partially offset by weakness at Caloi. Read...