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.
May 25, 2022
Fugitive wanted in killing of elite cyclist traveled to New York City, authorities say
Kaitlin Marie Armstrong, the woman suspected of fatally shooting elite cyclist Anna Moriah "Mo" Wilson in Texas, is believed to have traveled to New York City after the killing, authorities said Wednesday. Armstrong, 34, is accused in the May 11 shooting of Wilson -- who had previously dated Armstrong's boyfriend...
May 25, 2022
Gravity sportswear brand Omorpho secures 6 million US dollar investment
Premium fitness brand Omorpho, co-founded by former Nike executive Stefan Olander and Ben Williams, to revolutionise training with micro-weighted sportswear, has raised 6 million US dollar seed funding at a 26 million US dollar valuation. Fashion United
May 25, 2022
More cyclists are being killed by cars. Advocates say U.S. streets are the problem
Amid a sharp increase in fatalities and serious injuries among cyclists hit by cars and trucks, some cycling advocates say there's often a disconnect between efforts to encourage more biking and ensuring the safety of bicyclists who are using streets that are primarily designed to move cars and trucks through...
May 24, 2022
Adidas Unveils Revamped Portland HQ as Employees Return to the Office in a Hybrid Capacity
The Germany-based brand on Tuesday said it has completed a 220,000 square-foot expansion of its headquarters in Portland, Ore. The project, which began in 2018, includes an additional three buildings on campus, a new gym, cafes, parking space and a soccer pitch. In total, Adidas said it now offers 525,000...
May 20, 2022
Outside Inc. Lays Off 15% of Staff as It Transitions to Digital
Outside Inc. told staff on Friday that it would be laying off around 15% of its 580-person workforce––between 85 to 90 people––as the bundled publisher continues its transition to a primarily digital company, the Denver Business Journal reported Friday. The media company, which is composed of 36 individual publishers including Backpacker, Ski...
May 19, 2022
Under Armour Announces CEO Transition
Under Armour, Inc. (“the company”) (NYSE: UA, UAA), today announced that Patrik Frisk will step down as President and Chief Executive Officer (CEO) and as a member of the Board of Directors (board), effective June 1, 2022. The board has initiated a comprehensive internal and external search process to identify a permanent President and CEO....
May 19, 2022
F45 Training Revenue Jumps 175% in Q1
The Austin, Texas-based company generated $50 million in revenue in Q1 2022, a 175% increase year-over-year. F45’s impressive results were driven by its equipment and merchandise revenue, which reached $30.1 million during the quarter, up 499% year-over-year. FOS
May 18, 2022
Consumer spend in U.S. bike market flattens, but remains strong
Data released by the Bureau of Economic Analysis has revealed the U.S. bike market to be experiencing a post spike lull in spending on bicycle goods, though interest remains above pre-pandemic levels. The inflation-adjusted data put American expenditure on bicycles and accessories in 2020 at $7 billion, up by a...
May 17, 2022
On Hikes Guidance On Robust First Quarter
On, the Swiss running brand, raised its outlook for sales and earnings for the current year after reporting first-quarter results that easily topped Wall Street estimates. Net sales vaulted 67.9 percent in Q1 2022 and sales are now expected to grow at least 44 percent in 2022. SGBMedia
May 16, 2022
Peloton, NordicTrack maker iFit settle all litigation
Peloton Interactive Inc (PTON.O) and NordicTrack maker iFit said they have settled all pending litigation between them, where the fitness equipment makers accused each other of infringing their respective patents. Reuters