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 21, 2023
Nike Q3 Earnings Beat Expectations, Wholesale Revenue Up 18%
Nike reported better-than-expected results for the third quarter — despite recent inventory excesses and challenges in China. The athletic giant reported Q3 revenues of $12.4 billion, up 14% from the same time last year and ahead of expectations from analysts surveyed by Yahoo. Net income was $1.2 billion, down 11%...
March 21, 2023
Nationwide E-Bike Tax Credit Bill Returns to Congress
The Electric Bicycle Incentive Kickstart for the Environment Act first arrived in Congress in 2021. Like most bills that come to America’s legislative chambers, it never passed into law. But five politicians and bike industry advocates hope that 2023 will be the year Americans get tax credits for buying electric bicycles....
March 21, 2023
On’s Revenues Surge 92 Percent In Fourth Quarter
On Holding AG significantly decreased its loss in the fourth quarter ended December 31 as sales vaulted 91.9 percent. For the current year, the Swiss running brand predicts sales will grow 39 percent. On finished the 2022 financial year on a high note and with a further record net sales...
March 21, 2023
Cycling kit industry branded ‘deeply broken’ as yet another brand closes down
The American apparel manufacturer from North Carolina today announced that it will cease operations in April, following an unsuccessful round of community financing. CEO David Billstrom explained that the recent WeFunder community financing campaign fell short, raising only 50% of the brand’s one-million dollar target. Cycling Weekly
March 20, 2023
Rack Attack Announces the Acquisition of Two New Stores in Calgary
Rack Attack, a leading retailer of car racks, bike racks, rooftop tents, overlanding, and other outdoor gear, has announced the acquisition of two new stores in Calgary, previously owned by Racks Unlimited. After the acquisitions, Rack Attack has a total of 38 stores in North America, further solidifying its position...
March 15, 2023
Rocky Mountain acquires its German distributor BikeAction
Canadian MTB brand Rocky Mountain has announced the acquisition of German distributor BikeAction, after decades of partnership between the two companies. BikeAction has been the European distributor for Rocky Mountain since 1998, and Germany was one of the first markets for the bike brand when it began international expansion. Bikebiz
March 14, 2023
Levisay will step down as head of The Pro’s Closet; Calandrella to succeed him
John Levisay, who has led The Pro's Closet for the past 2½ years, will leave his position as CEO at the end of this month to spend more time with his family. Paul Calandrella, formerly TPC's vice president of strategic initiatives, was named general manager and will be in charge...
March 13, 2023
Wearables firm INCUS Performance ceases trading
Wearable tech specialist INCUS Performance has confirmed that it has ceased trading with immediate effect. Initially positioned as a wearable analytics company for swimmers and triathletes, the company more recently applied its Nova wearable device for running. Endurance.biz
March 13, 2023
Who Owns Ironman? Who Owns Triathlon?
The reality is that answering, who owns triathlon is tricky. To help, we’ve put together the most recent ownership information that’s available at the time of this writing just below. Not a business whiz? We’ve also created a glossary of terms far below to help you translate. Triathlete
March 13, 2023
High-end bikes still in demand says Giant, as it announces 12.5% revenue increase
The demand for high-end bikes remains strong according to manufacturer Giant, which has announced a 12.5% jump in revenue for 2022. However, it also has excess inventory for low to mid-priced components – an area it says has cooled off considerably – while high-end components are still harder to come...