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.
April 18, 2023
‘World’s longest’ purpose-built cycling tunnel opens in Norway
A three-kilometer-long (1.8-mile) cycling and pedestrian tunnel has been blasted through the base of Løvstakken mountain and its makers say it’s the longest purpose-built tunnel of its kind. Fyllingsdalstunnelen, as it’s known, opened on April 15 with a family day of sporting activities, following four years of construction that began...
April 17, 2023
Lululemon Exploring Sale Of Mirror Fitness Platform
Lululemon Athletica, Inc. is working with an adviser to explore selling the Mirror connected fitness business, which has underperformed since LULU acquired the company in 2020, sources told Bloomberg. The report comes as Lululemon on March 29 said it absorbed after-tax impairment and other charges totaling $442.7 million against fourth-quarter earnings...
April 15, 2023
Fitstop To Expand Into U.S. Market; Hires NA Athletic Director
Australia-based fitness chain Fitstop reported plans to enter the U.S. market with a flagship location opening in Santa Monica, CA. The company also plans to open ten U.S. locations by the end of 2023. Peter Pisani was hired as Fitstop’s North America Athletic Director. SGB Media
April 13, 2023
Troubled waters for Wahoo? GPS and indoor training brand cites “special agreement” after missing payment deadline and getting its credit rating lowered again
One of the biggest credit ratings agency has sounded the alarm for Wahoo’s debts, after the company missed payment months after being warned that such a scenario could be on the horizon; but Wahoo has claimed that it has a “special agreement” with its lenders regarding the delay. The latest...
April 12, 2023
Peloton’s Shares Slide As Morgan Stanley Warns Of Slowing Web Traffic
Peloton Interactive Inc.’s shares fell 11.2 Wednesday after Morgan Stanley said the connected fitness company’s web traffic had decelerated and could hinder growth. Shares fell $1.29 to $10.20 on the day. The stock’s 52-week range is between $6.66 and $26.50. Morgan Stanley reiterated its “In-Line” rating at a price target...
April 12, 2023
After $250M in Retail Sales, Prime Hydration Looks to Youth Sports
Base, a sponsorships sales agency, is planning brand activations for Prime at 60 youth sports events to reach more than 1.2 million consumers. After signing deals over the past year with professional organizations UFC and Arsenal FC, Prime will now promote its drinks directly to its targeted youth consumers through...
April 11, 2023
Tonal Names New CEO, Raises $130 Million in Funding
Tonal, San Francisco, named a new CEO and completed a funding round that raised $130 million in new capital, the company announced on April 10. The funding came through existing investors, led by L Catterton, Cobalt, Dragoneer, Kindred Ventures and THVC. It is part of a broader recapitalization strategy to strengthen the...
April 10, 2023
Lululemon, Patagonia Lead Activewear Brands In Resale Popularity
Lululemon is the second most popular brand in resale, according to ThredUp’s 11th Annual Resale Report. Other activewear brands that made its Top 20 Most Popular Brands In Resale include Patagonia, at No. 6; Vuori, in 10th place; and The North Face, at 18. ThredUp’s study, based on research conducted...
April 4, 2023
After Hitting $1 Billion, Here’s How Hoka Plans to Surpass Its Next Sales Milestone
What a decade. As one of footwear’s newest billion-dollar brands, Hoka has skyrocketed under Deckers direction. It’s an impressive feat given that the performance running brand had sales of less than $3 million when the company acquired the brand in 2012. FN
April 4, 2023
Lessons From Race Directing in 2023
Now that we’ve gotten that out of the way — 2023 marks my fifteenth year producing running and triathlon races. I’ve transitioned out of producing events as either part of my day job or as my day job. For the last eight years, my wife and I have co-produced a...