BUSINESS NEWS
Want to stay up to date on the latest press releases and business news in the running, cycling and triathlon industries? Scroll below to view all endurance sports business news.
July 16, 2024
Adidas Beats Estimates Amid Turnaround as Nike Woes Continue
Adidas announced preliminary results for its second quarter on Tuesday that reflect the continued turnaround at the German sportswear giant. Revenue for the three months ending with June rose 9% to $6.35 billion (€5.82 billion based on current exchange rates). The gain was 16% on a currency-neutral basis and if Yeezy...
July 15, 2024
LeBron James Partners with Canyon Bicycles
LeBron James has been vocal about his love for cycling over the years as a way to stay mentally and physically fit. In mid-2022, the power forward for the Lakers invested in Canyon Bicycles, and today they are launching the “Find Your Freedom” initiative with a stacked roster of Canyon...
July 12, 2024
Bike industry ‘ripe for M&A’ despite recent rollercoaster
A report by Houlihan Lokey has judged the bike industry ripe for a new wave of mergers and acquisitions (M&A) despite the trade’s recent whiplash-inducing boom and bust run. With the market broadly expected to have largely dealt with its overstock problem in 2025, the report forecasts gradual recovery with significant upside in the medium...
July 12, 2024
How These Brands Are Chasing Olympic Gold in Paris and Beyond
U.S. companies from Nike to Warner Bros are opening new stores and holding big marketing events in Paris before and during the Olympics, betting that excitement for the summer games can help boost their sales. Comcast's NBCUniversal said that International Olympic Committee (IOC) sponsors spent 18 percent for the latest Olympics compared to...
July 10, 2024
Sprinter Asinga sues Gatorade over ‘recovery gummies’ after ban
Surinamese sprinter Issamade Asinga sued the Gatorade Company on Wednesday, alleging his recent doping ban was the result of eating contaminated "recovery gummies" that the brand manufactured and provided. Athletics Integrity Unit (AIU) handed the 19-year-old Asinga a four-year suspension for a doping violation in May, stripping his two South American Championship...
July 1, 2024
Data van of Tour champion’s team banned from route by cycling body
Tour de France defending champion Jonas Vingegaard's Visma|Lease a Bike team have been banned from using a new data-collecting van on the route of the world's greatest cycling race. The team proudly unveiled its "innovative Control Room" shortly before the 111th edition of the Tour started on Saturday in Italy. It...
June 27, 2024
Nike Inc. Beats Q4 EPS Estimates But Warns of Fiscal 2025 Guidance Cut
Nike, Inc. reported earnings in the fiscal fourth quarter ended May 31 exceeded analysts’ consensus targets by 17 cents but also warned that it would downwardly adjust its guidance for the coming year due to continued “challenges” in the marketplace. Earnings in the fourth quarter reached $1.01, excluding charges, compared...
June 27, 2024
Classified Cycling Names Head of Marketing and Communications
Classified Cycling has hired James Vickers as head of marketing and communications. Vickers previously worked at Muuvr, Wahoo Fitness and Wattbike in various marketing roles. SGB
June 24, 2024
Under Armour Reaches $434 Million Settlement in Shareholder Lawsuit
Under Armour Inc. agreed to pay $434 million to settle a 2017 lawsuit into claims that the company defrauded shareholders about its revenue growth in order to meet Wall Street forecasts. Under Armour said it has consistently denied the accusations and entered into this agreement in principle, which is not...
June 22, 2024
Jury awards more than $13 million to ultramarathon athlete injured in fall on a Seattle sidewalk
A jury awarded $13.1 million to an ultramarathon athlete who was severely injured when she fell on a Seattle sidewalk in 2021. Lesley Mettler Auld, 53, said that she will never run again and struggles to walk after the fall on a sidewalk in Seattle's Queen Anne neighborhood. The professional...