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.
March 1, 2024
Supersapiens abruptly stops glucose sensor shipments and membership services
Supersapiens, the company that specializes in glucose monitoring for athletes, let its customer base know via email about the termination of all memberships and the suspension of glucose sensor shipments. This decision is attributed to a broader “strategic restructuring,” as outlined in a message on the company’s website. Cycling Magazine
February 28, 2024
Life Time Group Swings to Full Year Profit as Revenue Passes $2 Billion Mark
Life Time Group Holdings, Inc. reported that fourth-quarter revenue increased 18.2 percent to $558.8 million due to continued strong growth in membership dues and in-center revenue. Center memberships increased by 38,010, or 5.2 percent, in the quarter, when compared to December 31, 2022, and decreased sequentially from September 30, 2023...
February 26, 2024
UCI hands out suspensions after Cynisca Cycling found guilty of participating ‘in a fraud’
The UCI has suspended members of Cynisca Cycling after the team disguised a mechanic as a rider in an effort to gain entry to last year's Argenta Classic. American team Cynisca were missing one of their five riders due to illness for the road race in Belgium. Mechanic Moira Barrett dressed as...
February 23, 2024
Merrell Expects DD Decline in 2024; Return to Growth in H2
Merrell brand parent company Wolverine Worldwide (WWW) outlined progress and planning for some of its top brands when discussing fourth-quarter and full-year results, pointing to the outdoor footwear brand as a key contributor. Wolverine’s CEO Chris Hufnagel said the Merrell brand will have the opportunity to work more closely with...
February 22, 2024
Fox Factory sales down 9% in 2023
Fox Factory revenues in its Speciality Sports Group, which includes its bike-related brands, were down 43% in the company’s 2023 fiscal year, a decline the company attributed to “channel inventory recalibration” and “lower end consumer demand.” The decline in the SSG revenue came despite the inclusion of $16.8 million in...
February 22, 2024
Apple Secures Hydration Patent, Smart Ring Rumors Heat Up
As Apple continues to push into the health and wellness space, new intellectual property filings and reports speculate that the tech giant might be moving into the hydration-tracking and smart ring markets. Apple recently filed a patent for a “wearable device with perspiration measuring capabilities” for its Apple Watches. The solution would...
February 21, 2024
State Farm, Rad Power Bikes settle lawsuit over e-bike fire
The lawsuit in U.S. District Court for the Eastern District of Pennsylvania was dismissed with prejudice after it was filed Oct. 4, 2022, claiming damages were in excess of $250,000. The lawsuit alleged design, manufacturing, and component defects; use and/or handling instruction and/or warnings defects; and/or a failure to warn...
February 20, 2024
Giant Group Reports Moderating Sales Decline in January
The Giant Group reported monthly revenues for January 2024 declined 17.7 percent to NT$4.79 billion, representing the third straight month of moderating declines and the smallest decline since June 2023 when company revenues declined 13.5 percent. The Giant Group reports financials in New Taiwan Dollar (NT$). SGB Media
February 16, 2024
Ownership of IRONMAN is More Than the Legal Status
IRONMAN is a personal touchstone and for this reason there are no owners of it. There are only temporary custodians of a cultural institution who’ve been granted the privilege of husbanding the brand while they remain in charge. The new custodian has more than a responsibility. He has an opportunity....
February 15, 2024
Nike Is Laying Off 2% of Workforce as Company Works to ‘Right-Size’ Organization
After months of speculation, Nike confirmed late Thursday that it is laying off 2 percent of its workforce. The move comes after the athletic giant revealed in December that it was taking steps to “streamline” the organization and would look to save up to $2 billion in costs over the...
