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.
August 13, 2022
SoulCycle to hit brakes on nearly 25% of its locations
The once-hot exercise chain is closing 20 of its 82 studio locations nationwide within the next few weeks. The privately-run company, owned by Equinox Group, will shutter four New York City locations – in Midtown, Soho, West 92nd St. and Park Slope, Brooklyn — along with a Hamptons outpost in Water...
August 12, 2022
Peloton to cut nearly 800 jobs, raise prices amid declining sales
Peloton will embark on a sweeping overhaul that includes cutting nearly 800 jobs, raising prices for its Bike Plus and Tread machines, and outsourcing functions such as equipment deliveries and customer service to outside companies. The changes, which the company disclosed Friday in a memo to employees, also includes gradually...
August 12, 2022
Peloton must face lawsuit claiming it misled over “ever-growing” classes, judge rules
The class-action lawsuit was filed on behalf of customers who were angered by the company's decision to cut its number of exercise classes while continuing to market its service as offering an "ever-growing" library of classes. The lawsuit was filed in 2019 by the National Music Publishers Association over its alleged...
August 12, 2022
Why Nike Is Closing Offices Around the World Next Week
Nike is again closing its global offices next week to encourage employee well-being, a move the company first announced in May. To encourage employees to enjoy some R&R and sunshine with their families, the global offices will be closed for Well-Being Week, so teammates could unplug — without worrying about...
August 12, 2022
Cadence Performance acquires Evernden Cycles, soon to be a Giant brand store
Cadence Performance has announced the acquisition of Evernden Cycles in Kent, taking the firm’s retail portfolio to six branches. With Evernden Cycles’ owner retiring, the third-generation family business passes the torch after more than 70 years trading. Trading as Cadence initially, the store will transition to a Giant Brand Store by...
August 11, 2022
Brooks Running Sees Double-Digit Growth In Q2
Brooks Running reported sales grew 11 percent year-over-year in the second quarter. The Seattle-based running brand said that for the second consecutive quarter, it held the top spot in the U.S. adult performance running footwear market with a 21 percent market share based on revenue, according to The NPD Group. Brooks...
August 11, 2022
Zwift’s future direction: A doubling-down on project innovation and, eventually, VR headsets and AR
His answers are deliberately vague but Zwift CEO Eric Min has hinted at the future directions the company and the platform may take, including new product innovation and, in a matter of years, the possibility of virtual and augmented reality enhancing the riding experience. Velo News
August 10, 2022
Life Time’s Q2 2022 Results Show Slow and Steady Growth Amidst Economic Headwinds
Total revenue increased 42.7% to $461.3 million in second quarter 2022 for Life Time Group Holdings, Inc., Chanhassen, Minnesota, leading to an upbeat albeit realistic tone in its earnings conference call on Aug. 10. Club Industry News
August 10, 2022
Victoria Brumfield confirmed as USA Triathlon’s interim CEO
Following the departure of USA Triathlon (USAT) CEO Rocky Harris for a role at the United States Olympic & Paralympic Committee (USOPC), the US national governing body for triathlon has confirmed Victoria Brumfield as USA Triathlon’s interim CEO. Rocky Harris will join the USOPC in early September. Based in Colorado...
August 9, 2022
Wahoo unveils sports science facility in Boulder
Wahoo has been steadily growing over the years, unveiling a string of popular trainers, bike computers, pedals, and more. The next step in creating better products for the Atlanta-based brand is a sports science facility, announced today, in outdoor and fitness hotbed Boulder, Colorado, called the Sports Science Center. Velo News
