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 28, 2023
Oofos Completes Funding Round Led by Pro Athletes Derek Carr, Alex Smith and Dawn Staley
Oofos has completed a new round of funding, which was led by Derek Carr of the New Orleans Saints, retired NFL quarterback Alex Smith and WNBA star turned championship-winning women’s college basketball coach Dawn Staley. The trio of sports stars all had ties to the active recovery footwear brand prior...
March 28, 2023
Lululemon’s Revenue Rises 30% to $2.8B During Quarter
Athleisure giant Lululemon reported strong global sales for the fourth quarter and 2022 fiscal year. The company announced that revenue rose 30% to $2.8 billion for the quarter ending Jan. 29, 2023. Income from operations decreased 47% to $314.4 million, but adjusted income from operations increased 33% to $785.3 million....
March 27, 2023
Gary Fisher Does E-Bikes: Mountain Bike Pioneer Launches ‘Morelle’ Brand
With a new company called Morelle, mountain bike pioneer Gary Fisher claims to have developed a line of e-bikes far superior to the market's current offerings.
March 23, 2023
Time Bicycles unveils plans for carbon frame factory in South Carolina
Time Bicycles announced plans Thursday for the nation's largest carbon fiber bicycle manufacturing facility after acquiring a 140,000 square-foot factory in nearby Landrum. Karklins said renovations to the factory will begin next month at the factory that sits on 30 acres and is the former home of Bommer Industries, a...
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
