News Topics
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November 3, 2022
Bosch furthers European eBike output with Portuguese investments
Bosch will quickly build upon its recently announced Slovakian eBike production investment by simultaneously investing in Portugal, according to local media. A team of 300 is reportedly to be recruited in order to build a production team in the Ovar region where Bosch already has a significant presence outside of...
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November 3, 2022
Peloton shares tumble after company offers weak holiday quarter outlook
Pelotonposted a wider-than-expected loss for its fiscal first quarter, as a steep decline in connected fitness products revenue outweighed an increase in subscription revenue. The company’s shares fell nearly 10% in morning trading Thursday. As of Wednesday’s close, Peloton’s stock has dropped about 75% so far this year. CNBC
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November 3, 2022
Under Armour Shares Jump After Reporting Better-Than-Expected Q2 Results
Under Armour shares got a lift on Thursday after the company reported better-than-expected results for the second quarter. The Baltimore-based brand reported revenues of $1.6 billion, up 2% over last year. Net income was $87 million and adjusted diluted earnings per share was $0.20. Both earnings and revenues exceeded the...
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November 3, 2022
The U.S. Olympic and Paralympic Governing Body Getting Into NIL
On Wednesday, the organization announced it had launched a name, image, and likeness collective called “Watch Us Thrive.” It’s the first U.S. Olympic and Paralympic governing body to dive into NIL. The collective is “another aspect of USA Triathlon’s collective dedication to ensuring women’s triathlon as a NCAA Championship Sport...
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November 3, 2022
Strava partners with Snapchat for new augmented reality experience for athletes
This partnership is a first-of-its-kind augmented reality experience that lets Snapchatters and Strava users share their fitness journey with friends and family via their cameras. Snapchat has 363 million daily active users and sees over six billion AR Lens pictures taken daily. Canadian Running
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November 2, 2022
Will the Smartband Market Continue to Shrink?
Smartbands were the first to gain popularity in the wrist wearable market, thanks to their lower price and longer battery life compared to smartwatches. However, during COVID-19, consumers’ interest in healthcare and fitness increased sharply and they started shifting focus to smartwatches supporting more functions. As a result, smartband shipments...
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November 2, 2022
Triathlete pair launch new translation agency for cycling industry
A duo of triathletes have launched an industry-first translation agency for the endurance sports sector. Based in Warsaw, Poland, Endurance Translations is a new venture by Michal Glowacki and Gosia Glowacka, who have 15 years of translation experience and six-plus years competing in triathlons. Bike Biz
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November 1, 2022
Wasserman Adds Providence Equity as Investor; Redbird, Madrone Cash Out
Sports and entertainment talent representative Wasserman has taken on private equity firm Providence Equity as an equity investor. Providence, which counts Learfield and The Chernin Group. Sportico
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November 1, 2022
Golden Ticket Controversy At This Year’s Javelina Jundred
Last weekend’s hyper-competitive race in Arizona’s Sonoran desert drew top talent, record-breaking paces, and confusion around nonbinary award categories. Trailrunner
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October 31, 2022
Thule reports ‘rapidly declining’ demand for bike-related products in third quarter
Thule Group has published its interim report for July to September 2022, reporting a 23% decline in third-quarter sales year-on-year. Net sales for the quarter amounted to SEK 2,139m. Adjusted for exchange rate fluctuations, sales declined 29.4%. Net sales for the first nine months of the year amounted to SEK...
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October 31, 2022
British Cycling chief steps down three weeks after controversial Shell deal
Brian Facer has stepped down with immediate effect as chief executive of British Cycling, three weeks after the organisation announced a partnership with Shell UK that was fiercely criticised by environmental groups. In a statement released yesterdayon Monday, the national governing body for road and track cycling said the decision had been...
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October 31, 2022
Layoffs Occur at Mindbody, ClassPass
For the second time in two years, Mindbody has implemented staff layoffs at Mindbody, and this time it also included employees at ClassPass, which Mindbody acquired in October 2021. The software and experience technology platform company did not share how many people were laid off, but those who were laid...
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October 31, 2022
Kitzuma temporarily suspends delivery service
Kitzuma Cycling Logistics suspended its delivery service for the fall and winter and laid off most of its driver network in reaction to slowing demand for its door-to-door bike shipping business. Bicycle Retailer
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October 27, 2022
Fitness Drives Apple to Record Quarter
Apple reported record fourth-quarter revenue of $90.1 billion — an 8% increase year-over-year — for the period ending Sept. 24. The tech giant’s wearables segment, which includes its fitness watches, posted $9.6 billion in revenue compared to Wall Street estimates of $8.8 billion. FOS
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October 27, 2022
Tech startup Body Rocket seeking US investment following £430,000 UK and EU raise
Tech startup Body Rocket is seeking US investment following a successful £430,000 UK and EU raise. Body Rocket is creating the ‘world’s first’ device to provide real-time aerodynamic drag force measurement for cyclists and triathletes, with the accuracy of a wind tunnel. The patented technology (UK only and USA applied-for)...
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October 27, 2022
The Difference Between Zero-Sugar and Electrolyte Sports Drinks
Sugar-free sports drinks are made with artificial sweeteners, such as sucralose, and are generally lower in calories and carbohydrates than regular sports drinks. However, this doesn’t mean they’re completely void of electrolytes. Outside Online
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October 27, 2022
Track Bicycle Racing to Enter the Metaverse
A new partnership between Warner Bros. Discovery Sports and Infinite Reality will bring an immersive metaverse experience to the Union Cycliste Internationale (UCI) Track Champions event in London on Dec. 2-3, 2022. Visitors get the opportunity to preview “an immersive experience to engage fans,” a press release said. Gear Junkie
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October 26, 2022
Life Time Is Biggest Operator of Pickleball Courts in the Country
Life Time, Chanhassen, Minnesota, now has more than 350 permanent pickleball courts in the United States with plans to have 600 open by the end of 2023, the company said on Oct. 25. Since August 2021, Life Time has built indoor and outdoor pickleball courts at a rate of five...
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October 26, 2022
Kanye West was kicked out of Skechers’ offices after he showed up ‘uninvited,’ the company says
Ye, formerly known as Kanye West, was booted from Skechers’ corporate offices in Los Angeles on Wednesday after he showed up uninvited and unannounced, the company said. In a statement, the shoemaker said two executives escorted Ye and others from the company’s offices following a brief conversation and after he...
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October 26, 2022
NPD Reports Q3 Footwear Revenues Flat
In the third quarter of 2022, U.S. footwear industry sales revenue was flat at $10.8 billion, versus Q3 2021, according to global marketing group The NPD Group. While sneakers continued to capture the largest piece of the footwear business, fashion shoes and sandals were the top growth categories in Q3, based on...
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October 26, 2022
Garmin Raises 2022 EPS Guidance On Improved Margin Outlook
Garmin, Ltd. reported sales declined 4 percent in the third quarter ending September 24, dragged down by an 18 percent slide in the fitness segment. Second-quarter earnings topped Wall Street estimates and Garmin lifted its full-year EPS outlook on an improving margin outlook. SGB Media
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October 25, 2022
Kanye West split will cost adidas over $1B in Annual Sales
Adidas’ decision to end its partnership with Kanye West and immediately stop selling his Yeezy brand, due to West’s recent antisemitic and other hateful comments, will likely cost the company billions of dollars in annual sales and could set up a legal battle over the intellectual property behind the fashion...
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October 25, 2022
Shimano says bike demand “cooling” but ahead of pre-Covid levels
Shimano has described global demand for bikes as “cooling” in its Q3 financial update, but to levels that remain ahead of pre-pandemic trends. As the industry rumour mill whispers of signs of strain, Shimano said that from its view “in terms of market inventories of completed bicycles, those of high-end...
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October 25, 2022
Sports Drinks Boost Coca-Cola to $11B Quarter
Coca-Cola continues to rack up revenue from its sports drinks segment. The beverage giant generated $11.1 billion in revenue in Q3 2022 — a 10% increase year-over-year and surpassing Wall Street estimates of $10.52 billion. Sports drinks — which include BODYARMOR, Powerade, and Aquarius — grew 6% during the quarter....
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October 24, 2022
Cowen Survey: Nike, Lululemon and Dick’s SG Seize Share With Younger Consumers
According to Cowen’s Fifth Annual proprietary Gen Z and Millennial survey, Nike, Lululemon and Dick’s Sporting Goods showed the strongest competitive positions and/or growth in preference among younger consumers within softlines retail. The survey, conducted in July 2022, had 2700 U.S. consumers participate. SGB Media