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 7, 2023
Dick’s Sporting Goods’ Third Straight Record Year
Dick’s Sporting Goods has pulled off a third consecutive record year. The sporting goods giant topped itself yet again with full-year net sales of $12.37 billion, a 0.6% year-over-year increase and a 41.3% increase from 2019. Net income for the year fell to $1 billion from $1.5 billion in 2021....
March 6, 2023
Brooks, Asics, Nike & More Major Running Brands Are Tuning Into #RunTok on TikTok — Here’s Why
With nearly 1 billion views on TikTok, the growing community of #RunTok is fueling the running world all thanks to every day creators — and brands are taking notice. FN
March 3, 2023
Xponential Fitness Revenue Surges 58%
Xponential Fitness, which claims it’s the largest global franchisor of boutique fitness brands, reported a 44% year-over-year increase in fourth-quarter revenue to $71.3 million and a 58% increase in full year revenue to $245 million. The company posted a net loss of $400,000 for the three months that ended Dec....
March 3, 2023
Cycling journalists form Escape Collective following layoffs, exodus from Outside
In its first 24 hours of selling $99-a-year memberships, the Escape Collective has enlisted thousands of subscribers, said Caley Fretz, a Durango-based cycling journalist who co-founded the new venture with editor Wade Wallace, who founded the influential Cycling Tips in 2008 and left his creation last year. The Colorado Sun
March 2, 2023
Should the bike industry fear a takeover from the auto industry?
The number of brands and bike models and sizes per brand is mind boggling. There is a lot of change every season and trends come and go fast. With this setup, the effort for one bike model will naturally be lower than for a car model that will be in...
March 1, 2023
Fast-growing e-bike company Velotric raises $7.4M USD Series A
Velotric, a leading innovator in the electric bike market, announced today that it has successfully raised a $7.4 million USD Series A round, bringing the total raised to $12 million USD in its first year. Funding has come from Redpoint China Ventures, Fosun RZ Capital, Uphonest Capital, and Lime Cofounders...
February 28, 2023
Americans have changed the way they exercise. Here’s how gyms are adapting
Post-pandemic, the surge in the popularity of weight training has helped the gym industry recover. The number of gym memberships in the United States increased 3.6% in 2021 from pre-pandemic levels, according to the latest data from IHRSA, a trade association for the fitness industry. CNN
February 26, 2023
Jury says Princeton Carbon Works wheels don’t infringe on SRAM’s patents
Princeton Carbon Works prevailed after a two-week jury trial in which SRAM LLC had accused the company of infringing on two patents for aero wheels. In its complaint filed in the U.S. District Court for the Southern District of Florida nearly two years ago, SRAM said that the wavy rim shape on...
February 24, 2023
Garmin reports 71% profit fall in cycling and fitness business as pandemic bubble bursts
Leading US tech brand Garmin has reported a 71% drop in operating profit across its cycling and fitness division in 2022 as the pandemic bubble burst, the company's annual report said. Published on Wednesday, the company's final report for the 2022 fiscal year shows that operating income was $105m from...
February 24, 2023
E-bike conversion brand Boost secures six-figure investment
British e-bike conversion brand Boost has closed its latest funding round after securing a six-figure investment. Boost, founded by Cambridge engineer Nick Bailey, is an aftermarket conversion kit brand that works directly with retailers. Bikebiz
