News Topics
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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...
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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...
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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...
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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...
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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...
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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...
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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.
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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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July 30, 2020
U.S. road races are not safe from COVID-19 danger says leader of cycling task force
U.S. road races are not safe from COVID-19 danger says leader of cycling task force. Steve Brunner, chairman of the new group Cycling Events Task Force, believes traditional road races should be halted or greatly modified. Brunner's group has published a 15-page report for race directors on how to safely...
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July 30, 2020
HOKA Continues to Be Deckers’ Rising Star as COVID-19 Becomes a Boon to Sales
Sales at the running shoe brand rose 37.1% to $109 million in the first quarter — as novice runners and elite athletes alike increasingly turned to the outdoors for leisure exercise amid lockdowns — making it the only banner in the Goleta, Calif.-based corporation’s roster to record an increase in...
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July 29, 2020
Former Olympic cyclist Johann Lienhart banned for helping son dope
The Austrian Anti-Doping Legal Committee said Tuesday that Lienhart supplied his pro triathlete son with EPO, genotropine and testosterone between December 2018 and March 2019. Read more on ESPN.
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July 29, 2020
Consumer Electronics Firm Garmin Tops Views On Fitness Device Strength
The outdoor recreation, fitness and navigation device maker crushed Wall Street's targets for the second quarter, but the Garmin earnings news pushed GRMN stock lower. Read more on Investor’s Business Daily.
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July 29, 2020
UCI to punish teams and event organizers if COVID-19 rules are not followed
Teams that fail to present proof of a rider’s diagnostic test will face fines decided by the UCI’s disciplinary commission, and the rider will also be removed from the event. Organizers that do not comply with the long list of COVID-19 safety face fines, stern warnings, and even the possible...
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July 29, 2020
Shimano’s Sales Slide 12 Percent In Six Months
Shimano Inc.’s sales were down 11.9 in the first half ended June 30. Sales fell 14.6% in the Bicycle Components segment and 1.8% in the Fishing Tackle segment. Overall revenues reached ¥160.3 million, down from ¥181.9 million. Read more on SGBMedia.
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July 29, 2020
ASICS Launches Hydration-Friendly Running Mask That Cools the Air You Breathe
ASICS touts its Runners Face Cover as a ‘revolutionary’ mask that uses special vents using a special design that supposedly creates more space within the mask to promote more breathability. The mask also allows the wearer to drink water. Read more about its features on Gear Junkie.
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July 28, 2020
Row House Surpasses 300 Franchise Agreements
With close to 75 studios already open, the accomplishment falls in line with the brand’s goal to have over 300 new locations by 2022. Recently signed agreements will bring at least one new location to cities such as Omaha, North Haledon and Denver and three new locations to Phoenix, Jacksonville...
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July 28, 2020
USA Swimming introduces virtual competition format
This allows swimmers from across the country to compete against one another ‘from the comfort of their local pool.’ The new competition style, which marks the first time USA Swimming has held virtual meets on a national scale, allows swimmers to return to racing while reducing the risks of travel...
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July 28, 2020
Rich Harshbarger steps down as CEO of Running USA
After being CEO of Running USA for six years, Rich exits his post effective August 1, 2020. Read more on RunningUSA.
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July 28, 2020
Spartan Race Cancels The Rest Of The U.S. 2020 Season.
Since March, it has been a never-ending series of postponements, venue changes and overall uncertainty. Spartan has been working consistently with local governments, attempting to get more events going during the pandemic, but they made the decision to pull the plug on the 2020 US racing season. Read more on...
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July 27, 2020
Garmin confirms cyber attack as fitness tracking systems come back online
Garmin on Monday confirmed that it was the victim of a cyber attack on July 23 that led to a significant outage for the company’s popular fitness tracking services. After downtime that lasted several days, Garmin Connect cloud syncing capabilities and other features began late Sunday into Monday morning. Read...
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July 25, 2020
Incoming CrossFit CEO Eric Roza has signed a contract to buy 100% of the fitness company from controversial founder Greg Glassman
Roza, the owner of the affiliate gym CrossFit Sanitas in Boulder, Colorado, is partnering with private equity firm Berkshire Partners in acquiring CrossFit. Read more on Business Insider.
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July 23, 2020
Skechers Stock Jumps on Earnings Beat, Sales Recovery Appears to Be on the Horizon
For the second quarter ended June 3, they posted a net loss of $68.1 million and diluted loss per share of 44 cents, compared with the prior year’s profits of $75.2 million and earnings per share of 49 cents. Revenues decreased 42% to $729.5 million. Read more on Footwear News.
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July 23, 2020
Majority Of Americans Don’t Plan To Renew Gym Memberships Post-COVID-19
According to a survey from TD Ameritrade, 59% of Americans don’t plan to renew their gym memberships after the pandemic is over. As reported by CNBC, the survey showed 56% of those surveyed indicated that the pandemic helped them find “more affordable” ways to get exercise and live a healthier...
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July 23, 2020
Nike announces senior leadership changes and sweeping job cuts
Nike has announced a senior leadership reshuffle and plans for an undisclosed number of job cuts as part of a major restructuring that is set to cost the sportswear giant as much as US$250 million. The latest moves come as the company shifts away from a wholesale model towards digital...
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July 22, 2020
Nike Announces Major Reorganization, Job Cuts
NIKE, Inc. announced a series of senior leadership changes supporting the company’s Consumer Direct Acceleration. Amy Montagne becomes VP/GM, Men’s, Whitney Malkiel becomes VP/GM, Women’s and McCallester Dowers becomes VP/GM, Kids. Carl Grebert becomes VP/GM, EMEA, succeeding Bert Hoyt, who will retire from NIKE later in 2020. Sarah Mensah is...
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