News Topics
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May 10, 2022
Peloton Borrows $750M As Downward Cycle Spins
Peloton reported third-quarter revenue of $964.3 million, a 24% year-over-year drop from the $1.26 billion it posted the year prior, and a net loss of $757.1 million, a significant difference from last year’s third-quarter net loss of $8.6 million. The fitness company is running out of cash. Peloton ended the quarter...
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May 10, 2022
Planet Fitness Stock Climbs After Earnings Top Wall Street Estimates
Shares of Planet Fitness climbed Tuesday after the operator of fitness centers reported first-quarter earnings that beat Wall Street expectations and reiterated its 2022 outlook. Planet Fitness reported first-quarter adjusted earnings of 32 cents a share, above Wall Street estimates of 27 cents. Revenue for the quarter was $186.7 million,...
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May 10, 2022
Family of 6-year-old who ran marathon visited by child protective services, parents speak out
The parents of a 6-year-old marathoner are speaking out after they say child protective services paid their family an unannounced visit and questioned their children at home. abc13
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May 9, 2022
Orbea sets lofty 2022 target on the back of investments
Orbea has issued an operational update on its progress, within which the company revealed a sixth consecutive year of growth and a sales revenue of €282 million. Driven largely by exports, worth some 80% of the Basque firm’s trade, Orbea recorded a €40.7 million post-tax profit, which has bolstered the...
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May 6, 2022
Adidas, Pummeled by China Lockdowns, Offers Weak Guidance
Adidas is the latest global retailer to report headwinds to its business due to lockdowns in China. The German athletic-wear brand on Friday reported that currency-adjusted sales in Q1 dropped by 3% to 5.3 billion euros ($5.58 billion). Net income dropped 38%, to 310 million euros ($327.8 million). Footwear News
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May 6, 2022
Fox Factory adds 34.4% revenue in Q1, raw materials stocked up
Fox Factory has continued to add significant gains to its revenues, posting a Q1 growth of 34.4%, worth $378 million, versus $281.1 million in the same period last year. The results again represent record takings for the suspension giant, which recorded a 22.8% gross profit of $120.3 million despite a...
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May 6, 2022
Skin Spews Telltale Gases for Health Trackers to Tap Into
Scientists are doing experiments to see whether sensors might be added to wearables to tell us even more about our health based on gases released by our skin. WebMD
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May 6, 2022
Nike to Close Offices Again For a Week in August, Offer Summer Fridays, As It Brings Employees Back Into the Office
Nike is continuing its efforts to emphasize employee well-being as it starts the process of bringing employees back into the office. The sportswear giant will once again close all of its offices worldwide for a week in August to give its employees additional time off to recover and rest, according...
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May 6, 2022
Under Armour Shares Plummet as It Reports Steep Net Loss
Under Armour reported a net loss of $60 million in the quarter, with an adjusted loss of $3 million. But revenue was up 3% year-over-year to $1.3 billion. Wholesale was up 4% to $829 million, driven primarily by increases in its distributor and off-price business. Direct-to-consumer business was up 1%,...
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May 5, 2022
100% compostable water bottles at the Giro d’Italia for Cannondale teams
For the 2022 Giro d’Italia the Cannondale Professional World Tour teams will be using a 100% compostable water bottles. Made from plant-derived materials, the bite valve, cap and bottle body are completely compostable, free from plasticizers, heavy metals and BPAs making it both human-friendly and eco-friendly. Cycling Industry
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