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 31, 2020
Nike Details 500 HQ Layoffs in New Filing
The company said it would permanently reduce its workforce by 500 employees at its Beaverton, Ore. headquarters. The layoffs will begin Oct. 1, with additional separations expected after that date. Read more on Footwear News.
July 31, 2020
California retailers threatened with lawsuits over their websites’ accessibility
At least 15 bike shops in California have received emails and letters from a law firm threatening suits over their websites' compliance with the Americans with Disabilities Act and a California statute. Read more on Bicycle Retailer.
July 30, 2020
HOKA Continues to Be Deckers’ Rising Star as COVID-19 Becomes a Boon to Sales
Sales at the running shoe brand rose 37.1% to $109 million in the first quarter — as novice runners and elite athletes alike increasingly turned to the outdoors for leisure exercise amid lockdowns — making it the only banner in the Goleta, Calif.-based corporation’s roster to record an increase in...
July 29, 2020
Consumer Electronics Firm Garmin Tops Views On Fitness Device Strength
The outdoor recreation, fitness and navigation device maker crushed Wall Street's targets for the second quarter, but the Garmin earnings news pushed GRMN stock lower. Read more on Investor’s Business Daily.
July 29, 2020
Shimano’s Sales Slide 12 Percent In Six Months
Shimano Inc.’s sales were down 11.9 in the first half ended June 30. Sales fell 14.6% in the Bicycle Components segment and 1.8% in the Fishing Tackle segment. Overall revenues reached ¥160.3 million, down from ¥181.9 million. Read more on SGBMedia.
July 28, 2020
Row House Surpasses 300 Franchise Agreements
With close to 75 studios already open, the accomplishment falls in line with the brand’s goal to have over 300 new locations by 2022. Recently signed agreements will bring at least one new location to cities such as Omaha, North Haledon and Denver and three new locations to Phoenix, Jacksonville...
July 28, 2020
Rich Harshbarger steps down as CEO of Running USA
After being CEO of Running USA for six years, Rich exits his post effective August 1, 2020. Read more on RunningUSA.
July 25, 2020
Incoming CrossFit CEO Eric Roza has signed a contract to buy 100% of the fitness company from controversial founder Greg Glassman
Roza, the owner of the affiliate gym CrossFit Sanitas in Boulder, Colorado, is partnering with private equity firm Berkshire Partners in acquiring CrossFit. Read more on Business Insider.
July 23, 2020
Skechers Stock Jumps on Earnings Beat, Sales Recovery Appears to Be on the Horizon
For the second quarter ended June 3, they posted a net loss of $68.1 million and diluted loss per share of 44 cents, compared with the prior year’s profits of $75.2 million and earnings per share of 49 cents. Revenues decreased 42% to $729.5 million. Read more on Footwear News.
July 23, 2020
Nike announces senior leadership changes and sweeping job cuts
Nike has announced a senior leadership reshuffle and plans for an undisclosed number of job cuts as part of a major restructuring that is set to cost the sportswear giant as much as US$250 million. The latest moves come as the company shifts away from a wholesale model towards digital...