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.
May 29, 2024
Dick’s net sales increase 6%, leading to improved full-year outlook
Dick's Sporting Goods reported net sales increased 6.2% year-over-year and raised its full-year outlook. Net sales for the quarter ending May 4 were $3.02 billion, compared with $2.84 billion at the same time last year. Net income for the quarter was $275 million, down 10% year-over-year from $305 million. Earnings...
May 28, 2024
Merida bikes sales drop by 29.8% as industry slump rumbles on
Merida bikes are the latest firm to report a drop in sales in the current year as the effects of the global pandemic period continue to reverberate throughout the bike industry. The brand - which provides bikes for leading WorldTour team Bahrain Victorious - has been forced to stomach a...
May 24, 2024
Deckers CEO Says Innovation is Hoka’s ‘Top Priority,’ as the Performance Shoe Brand Continues to Grab Market Share From Nike
On the product front, Hoka is driving growth and consumer acquisition through innovative updates and new introductions across a diverse assortment of footwear. Innovation is the Hoka brand’s top priority, continuing to develop groundbreaking products that energize consumers around the world. FN
May 21, 2024
Kona founders buy back the brand; Kona Bikes returns to rider-owned and operated roots
Just a month after Kent Outdoors abruptly stalled Kona’s operations at the Sea Otter Classic, announced job cuts and the sale of the 36-year-old brand, the future has taken a surprising but optimistic turn. The brand has been bought back by its original founders, Dan Gerhard and Jake Heilbron, who promise to...
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 17, 2024
Nike Could Be Losing Its Lead in Online Running Shoe Traffic, Similarweb Data Shows
Nike is falling behind running shoe competitors when it comes to website traffic growth. Between March 2022 and March 2024, traffic to Nike.com’s running shoe category has declined steadily, according to web traffic data complied by Similarweb. Whereas the Swoosh’s running segment had double the amount of traffic of its competitors in...
May 14, 2024
EXEC: Giant Group Sees Improving Bike Picture as April Shipments Close to Flat
The Giant Group reported a sharp moderation of sales declines in April 2024 as shipments dipped just 1.75 percent year-over-year to NT$6.91 billion. The decline was the smallest year-over-year decrease in sales since April 2023, when sales grew 20.3 percent to NT$7.03 billion. January 2024 sales were down 17.7 percent, February sales were...
May 14, 2024
EXEC: On Holding Shares Hit 52-Week Highs as Q1 Results, DTC Gains Please the Street
On Holding AG pushed first quarter net sales past the half billion Swiss francs (CHF) mark for any quarter in its relatively short history, and did so with nearly 30 percent growth for the period ended March 31. The strong Q1 results made Wall Street forget about the tumultuous day...
May 13, 2024
Rich Running Fan Pays Boston Marathon Winner After Organizers Still Haven’t
Buzunesh Deba was named the official winner in 2016 after Rita Jeptoo was disqualified for doping. But the Boston Athletic Association has held up paying her the $100,000 she’s due—$75,000 for winning and $25,000 for setting a course record—because it’s been unable to recover the money from Jeptoo. The Wall Street Journal wrote about Deba’s...
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...