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 10, 2023
EXEC: Giant Sees Inventory, Weather And Tough Comps Hurting Q1 Sales And Profits
Giant sees inventory, weather and tough comps hurting Q1 sales and profits. Revenue for the first quarter was NT$20.12 billion, a decline of 9.6 percent year-over-year. Net profit after tax declined 54.1 percent from the prior-year period. SGB
May 10, 2023
Asics Corp. Posts 35 Percent Jump In Q1 FX Neutral Sales; Profits Surge 87 Percent
Asics Corporation reported that net sales jumped 44.6 percent year-over-year to ¥152.2 billion ($1.15 bn) in the first quarter ended March 31, and increased 35.0 percent year-over-year excluding foreign exchange effects. Profit attributable to owners of the parent company increased 86.9 percent to ¥16,310 million ($122.8 mm) mainly due to...
May 9, 2023
Under Armour Swings To Fiscal Q4 Profit On Footwear Growth; Inventory Up 44 Percent
Under Armour reported that revenue for the fiscal fourth quarter was up 7.5 percent to $1.40 billion (+10 percent currency-neutral) in the period ended March 31. Gross margin declined 310 basis points to 43.4 percent of sales in the period, driven primarily by higher promotions, mix impacts related to higher...
May 9, 2023
Orbea’s annual report shows $438M in sales, 1,000-plus employees
Orbea has doubled its workforce in the last three years and now has more than 1,000 employees, with 80% of the in Spain's Basque Country. The brand, which is organized as a cooperative, reports 2022 sales of 400 million euros ($438 million), with 85% coming from export markets. After taxes,...
May 9, 2023
Sports And Hollywood Stars Join Forces to Crush Cancer at The 11th Annual Tour De Pier
LOS ANGELES, Calif., May 9, 2023 – The 11th Annual Tour de Pier, a unique outdoor stationary cycling fundraiser is pleased to announce its star-studded lineup. The award-winning fitness fundraiser for Outstanding Special Event welcomes sports and Hollywood stars in helping create awareness about advancing cancer research. Celebrities scheduled to...
May 8, 2023
Altra Running Appoints Joe Toth as Head of Sales, North America
May 8th, 2023 – Denver, Colorado /ENDURANCE SPORTSWIRE/ - Altra Running, a VF Corporation brand, today announced the appointment of industry veteran Joe Toth to the position of Head of Sales, North America. Toth will lead Altra’s North American sales strategy with responsibility for the wholesale channel in both the...
May 5, 2023
Adidas Beats Revenue Expectations Despite Costly Yeezy Struggles
Adidas’ Yeezy crisis has hit the company hard — but its first-quarter financials were not as bad as expected. The sportswear giant reported $5.82 billion in Q1 2023 revenue — a 1% dip from $5.85 billion a year prior. Those numbers actually outperformed projections from financial analysts, who expected a...
May 4, 2023
Peloton Touts Subscriber Growth Amid Heavy Losses
Peloton CEO Barry McCarthy described its fiscal quarter as the best he has seen with the company, but investors were left cold. The connected fitness giant booked $748.9 million in the fiscal third quarter ending March 31, missing analyst expectations and causing the company’s stock to tumble 13.5%. Peloton lost an...
May 3, 2023
Shimano reports 16.8% fall in bike-related sales for Q1 of 2023
Shimano has released its financial results from Q1 of 2023, showing a 16.8% fall in sales in its bike division. The company also reported it was down 31.8% in operating income in the same sector. In its bike segment, net sales were 98,298 million yen – around £580 million –...
May 3, 2023
Brooks Running Continues Growth in Q1 With Record Sales in EMEA Region
Brooks Running is continuing its growth in the first quarter, after a record 2022. In the first quarter of 2023, the Seattle-based performance running brand reported 20 percent year-over-year global revenue growth, including a record 32 percent increase in the Europe, Middle East, and Africa (EMEA) region. FN
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