Latest Pro Cycling News
May 21, 2024
Peloton Taking Out $1B Loan as Part of Refinancing Effort
On Monday, Peloton announced that it intends to enter into a series of financial transactions including a $1 billion, five-year loan, the issuance of $275 million in convertible senior notes and a $100 million, five-year revolving credit facility. In total, Peloton will get around $1.4 billion in new credit from the transactions. The...
May 14, 2024
Strava urged to delete popular London cycling segment after deadly crash
The operator of Regent's Park, The Royal Parks, has written to Strava and other cycling apps to ask for the removal of the Outer Circle from its leaderboards. It follows a collision involving Hilda Griffiths, 81, a pedestrian who was hit by a cyclist, Brian Fitzgerald, in June 2022, and later died...
May 13, 2024
Is Bike Retail on the Road to Recovery?
Encouraging quarterly results from Fox Factory, Shimano, MIPS, and Thule as well a favorable reports from Circana and PeopleForBikes offers some optimism that the bike industry may be finally moving past its crippling destocking phase to resume growth in the second half. However, the National Bicycle Dealers Association (NBDA) still...
May 10, 2024
‘Remarkable’ Commuter Helmet Has Turn Signals that Work by Nodding Your Head
Gamel’s ‘The Remarkable’ is the first helmet to offer integrated turn signals activated by a simple nod of your head. The helmet also includes an automatic brake light function. Gamel first introduced The Remarkable luminous helmet with a successful Kickstarter campaign last year. They’re now offering a full production model...
May 7, 2024
Private equity firms circle Peloton for potential buyout
A number of private equity firms have been considering a buyout of Peloton as the connected fitness company looks to refinance its debt and get back to growth after 13 straight quarters of losses, CNBC has learned. Firms have zeroed in on how to cut Peloton’s operating expenses to make a buyout...
May 2, 2024
Fox Factory Posts Q1 Loss as Sales Fall in Mid-Teens, Bike Sales Post $65M Decline
Fox Factory Holding Corp. reported a 16.6 percent decrease in net sales for the first quarter to $333.5 million compared to net sales of $399.9 million in the first quarter of fiscal 2023. Aftermarket Applications Group (AAG) net sales declined $36.9 million, or 26.6 percent, year-over-year. The decrease in AAG...
May 2, 2024
Peloton CEO Steps Down; Company Cutting About 400 Jobs
Barry McCarthy is stepping down as Peloton’s CEO, president and Board director. Peloton Board members Karen Boone and Chris Bruzzo will serve as interim Co-CEOs; Jay Hoag will become the chairperson of Peloton’s Board of Directors. Peloton Interactive, Inc. announced that Barry McCarthy is stepping down as president, CEO and Peloton Board director and take...
May 1, 2024
Amer Sports sells Enve Composites to private investment firm
Enve Composites has been sold by Amer Sports to PV3, a Utah-based private investment firm. Amer Sports’ chief operating officer Michael Hauge Sørensen said: “Enve has gone through major changes in the past years. The brand has positive momentum, and we see that it has good potential. Enve Composites was founded in 2007...
April 26, 2024
The Stages Cycling Saga Is Only Going to Get Messier
As Stages product owners know quite well, the company had seemingly been on life support for the last year, visible to both consumers and industry watchers alike. This follows nearly a year of continued degradation of their product support responsiveness, and loss of key long-term leaders at the company. The...
April 26, 2024
Bike-carrier demand helps propel Thule’s 9% Q1 net sales gain
Buoyed by Sports & Cargo Carriers, Thule Group's first-quarter net sales increased 8.7% year-over-year. Sales of Sports & Cargo Carriers, including the largest sub-category bike carriers, jumped 16% compared with the same time last year. Overall net sales of SEK 2,420 ($222 million) for the quarter topped the SEK 2,226...