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 16, 2022
Specialized founder Mike Sinyard steps down from CEO role
After 48 years at the helm of Specialized, founder Mike Sinyard has appointed former Dyson executive Scott Maguire as the new CEO. As Founder, Chairman and Chief Rider Advocate, Sinyard will remain the brand's 'visionary leader' but the responsibility of running the business will now fall on Maguire. Cycling Weekly
March 14, 2022
F45 Training’s Sales Grew 63 Percent In 2021
F45 Training Holdings Inc. reported sales grew 242 percent in the fourth quarter and 63 percent in the fiscal year ended December 31. Total revenue increased $51.7 million, or 63 percent, to $134.0 million from $82.3 million as compared to the prior year. SGB Media
March 9, 2022
New Balance and District Vision Launch Mental Health Awareness Courses accompanied by an Exclusive Collection
New Balance has officially launched a collaboration with Los Angeles-based inner peace collective, District Vision, with a collection of technical apparel and footwear, and a series of micro-courses that aim to provide consumers with tools designed to increase mental health awareness through running. The micro-courses focus on education through a...
March 9, 2022
Therabody Files Six Lawsuits To Protect Its Intellectual Property
Therabody announced the filing of a lawsuit against the TJX Companies and five additional lawsuits against unauthorized Amazon resellers for patent and trademark infringement on its Theragun and related proprietary technologies. Filed in the U.S. District Courts of California, Delaware, Florida, Texas, and New York, the lawsuits are in addition...
March 9, 2022
Adidas Warns That Russia Conflict Could Impact 2022 Business as it Halts Sales in the Region
Adidas is one of many retailers expecting to see a hit from sales due to impacts from Russia’s conflict with Ukraine. The German sportswear retailer on Wednesday shared an updated outlook for fiscal year 2022 that takes into account a risk of up to €250 million, or about $275 million...
March 9, 2022
SRAM acquires cycling clothing brand Velocio?
It appears the silly season of mergers and acquisitions is continuing with another announcement involving SRAM. Just over a month ago, SRAM announced that it had acquired the cycling computer brand Hammerhead. Now, we’ve received word through Velocio that they’ve just sold to SRAM as well. Bike Rumor
March 8, 2022
Dick’s SG’s Again Tops Expectations In Q4
Dick’s Sporting Goods reported earnings on an adjusted basis grew 50 percent in the fourth quarter ended January 29 on a 5.9 percent same-store sales gain. Both earnings and sales topped Wall Street’s guidance, with the period marking Dick’s largest sales quarter. Earnings are expected to decline in the current...
March 7, 2022
Fitness Chain Virgin Active Expands Amid $118M Capital Raise
London-based fitness chain Virgin Active is expanding from a gym company to a wholesale “combined fitness and nutrition” operation. To do so, the company has made two major moves: a capital raise and an acquisition. The capital raise totaling $118 million included retail billionaire Christo Wiese — who contributed $65.6...
March 7, 2022
Accell Group’s Revenues Climb 6.2 Percent In 2021
Accell Group reported EBIT grew 47 percent in 2021 on a 6.2 percent sales gain. Net sales of €1,377 million, up 6.2 percent despite ongoing component shortages. Growth was driven by higher sales of parts & accessories, mainly volume-driven, and higher bicycle sales due to improved pricing and mix offsetting...
March 3, 2022
iFIT Raises $355 Million, Settles Lawsuit, Lays Off Staff
iFIT Health & Fitness, Logan, Utah, raised $355 million in capital, settled a lawsuit with an investor, installed new leadership and laid off an undisclosed number of staff members, the company announced. Club Industry
