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.
December 31, 2021
Saucony President Anne Cavassa on How the Supply Chain Backlog Will Impact 2022 and Maintaining the Brand’s Momentum in the New Year
When parent company Wolverine World Wide Inc. revealed its first-quarter 2021 earnings in May, it stated sales at Saucony surged close to 60% for the three months ended April 3. And most recently, Saucony continued to prove it is a standout brand for Wolverine in Q3. For the three months ended Oct. 2, it...
December 29, 2021
Peloton Plunges in Google Search Trends
U.S. search trends for Peloton show a 30% year-over-year drop in the fourth quarter of this year. U.K. and Germany showed an even larger year-over-year decline. The brand’s U.S. search trends are up 10% from last quarter, less than last year’s 15% increase from Q3 to Q4. Peloton searches in the U.K. and Germany...
December 28, 2021
COVID Surge May Stall Gym Industry’s Comeback
The Omicron spike in COVID cases could spoil a pre-pandemic certainty for the gym industry: members flooding in to start on fitness-related New Year’s resolutions. The seven-day moving average of COVID cases cataloged by the CDC is at its highest point since January 2021. Business tracking firm Placer.ai said gym visits...
December 28, 2021
Tokyo Olympics Cost $1.8B Less Than Previous Estimates
The Tokyo Olympics faced a raft of problems related to the global pandemic, but the final bill came in well under previous estimates. The Summer Games cost organizers an estimated $13.6 billion, $1.8 billion below a prior prediction of $15.4 billion. Front Office Sports
December 23, 2021
Salazar’s Lifetime Ban Upheld By Safesport Center
The U.S. Center for SafeSport on Wednesday upheld its permanent ban of former Nike Oregon Project coach Alberto Salazar, The ruling affirmed a July decision by SafeSport, an independent nonprofit organization based in Denver, CO that responds to reports of misconduct within the U.S. Olympic and Paralympic sports, to permanently...
December 23, 2021
Under Armour, Columbia Facing Headwinds
Under Armour and Columbia were downgraded by market analysts Stifel, highlighting the challenges facing the sports category. Analyst Jim Duffy lowered the two brands from “Buy” to “Hold” — while lowering Nike’s price target but maintaining its “Buy” rating. The analyst foresaw short-to-mid-term concerns limiting the upside of both brands....
December 23, 2021
BikeExchange acquires US bike delivery service Kitzuma
Online cycling marketplace BikeExchange has acquired US-based bike delivery service Kitzuma for $3.375 million (£2.5 million). Australian firm BikeExchange said it made the acquisition to help drive its e-commerce-first strategy, with the aim of improving both seller and customer experience. Bike Biz
December 21, 2021
Fitness Apps Market Could Be Worth $120.37B by 2030
According to a study by Allied Market Research, in 2020, the fitness apps market was worth a total of $13.78 billion, and the compound annual growth rate would be 24.3%. The study suggested that an increased awareness of “a healthy lifestyle” and “diet-related diseases,” as well as an increased use of devices...
December 21, 2021
Thousands of JD Group Stores To Sell ABG’s Reebok
Reebok, purchased by Authentic Brands Group in August, will now be sold in thousands of JD Group stores thanks to a new agreement between the companies. The non-exclusive deal comes after ABG announced plans to buy Reebok from Adidas for $2.46 billion — the acquisition is set to close in Q1 2022. JD Group, which...
December 21, 2021
Vietnam factory closures cause Nike to cancel 130M units
As a result of three months of closures and limited production volume as it ramped back up its factories in Vietnam, Nike had to cancel 130 million units. Despite the challenges, the company's net revenue in Q2 edged up 1% to $11.4 billion while net income grew 7% to $1.3...