News Topics
August 6, 2020
Mellow Johnny’s ends sales of police bikes
Mellow Johnny’s Bike Shop Austin will no longer will sell bicycles to the Austin Police Department because of concerns over officers using them to control Black Lives Matter protesters. The department purchased between 50 and 100 bikes per year. Read more on Bicycle Retailer & Industry News.
August 5, 2020
Fitbit Reports Second Quarter Results for the Three Months Ended July 4, 2020
Fitbit, Inc. reported revenue of $261 million, GAAP net loss per share of $(0.39), non-GAAP net loss per share of $(0.12), GAAP net loss of $(104) million, non-GAAP net loss of $(32) million, cash flow from operations of $33 million, and non-GAAP free cash flow of $28 million for its...
August 5, 2020
Merrell and Sperry Parent Handily Tops Forecasts Despite Widespread Store Closures
Amid the coronavirus pandemic, business at Wolverine World Wide Inc. appears to be bouncing back. Reported second-quarter financial results beat analysts’ expectations: For the three months ended June 27, it logged adjusted diluted earnings per share of $0.08, compared with the prior year’s 52 cents. Revenues dropped 38.6% to $349.1...
August 5, 2020
Fitbit Sees 17 Percent Q2 Revenue Decline
Fitbit Inc., which has agreed to a merger with Google, reported sales fell 16.7% in the second quarter, to $261.3 million from $313.6 million a year ago. The net loss came to $104.1 million, or 39 cents a share, against a net loss of $68.5 million, or 27 cents, a...
August 4, 2020
BYOB: Runners must carry own bottles for trash-free Shonan Marathon
For the first time ever, marathon runners will cover the entire 42.195-km course while carrying something in their hands: their own bottles. In order to reduce waste, participants will run with their own bottles or cups, periodically refilling them from drink stations, with runners required to start the race with...
August 4, 2020
The Great American Outdoors Act has become law
One of the largest conservation bills drafted in recent memory was signed into law today, ending a months-long process. The Great American Outdoors Act guarantees mandatory, permanent financing of the Land and Water Conservation Fund at $900 million a year and earmarks $1.9 billion annually for the next five years...
August 3, 2020
Emerald Holding’s Q2 Marred By Event Cancellations
Emerald Holding Inc., the parent of Outdoor Retailer, Surf Expo and other trade shows, reported a steep decline in revenues in the second quarter due to event cancellations. To date, Emerald has submitted $95.1 million in claims, $89.1 million of which represents the net amount of budgeted gross revenues less...
July 31, 2020
Under Armour warns sales will decline as much as 25% in second half of 2020
Under Armour said Friday that it was “encouraged” by the momentum it has seen in June and July, as its stores are reopening after temporarily being shut. During an earnings call, however, it said revenue could fall anywhere between 20% and 25% in the back half of 2020. Within this...
July 31, 2020
Nike Details 500 HQ Layoffs in New Filing
The company said it would permanently reduce its workforce by 500 employees at its Beaverton, Ore. headquarters. The layoffs will begin Oct. 1, with additional separations expected after that date. Read more on Footwear News.
July 31, 2020
California retailers threatened with lawsuits over their websites’ accessibility
At least 15 bike shops in California have received emails and letters from a law firm threatening suits over their websites' compliance with the Americans with Disabilities Act and a California statute. Read more on Bicycle Retailer.
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