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.
December 22, 2020
Ex-employee sues Specialized for wrongful dismissal, alleges sexual harassment
The graphic designer is charging that she was terminated in violation of federal and state civil rights and employment laws, claiming she endured a hostile work environment where women were treated as less competent than men and as sexual playthings for upper management. Bicycle Retailer
December 22, 2020
Will the Home Fitness Boom Stretch Beyond the Pandemic?
What will be the new “normal” for fitness? Are people are going to rush back to crowded gyms? With the surge in sales of home fitness equipment and the popularity of home and gym workouts, it looks like people have adapted to new fitness and workout habits. Front Office Sports
December 22, 2020
24 Hour Fitness Sees Bankruptcy Emergence By Year End
The U.S. Bankruptcy Court for the District of Delaware late Tuesday confirmed the reorganization Plan for 24 Hour Fitness, reducing approximately $1.2 billion of funded debt and expects to emerge from Chapter 11 by December 31, 2020. SGB Media
December 21, 2020
Peloton shares soar after company announces $420 million deal for fitness equipment maker Precor
Peloton shares soared Monday after the company announced it plans to acquire the exercise equipment manufacturer Precor for $420 million, with its stocks jumping more than 6% in after-hours trading. CNBC
December 19, 2020
Yahoo Finance Digital sales and China emerged as the twin pillars lifting Nike’s Q2 earnings
The sportswear giants’ Q2 revenue came in at $11.2 billion vs. $10.55 billion expected and $10.33 billion year over year. Earnings per share came in at 78 cents vs. 62 cents expected and 70 cents year over year. Digital sales and China emerged as the twin pillars lifting Nike’s Q2...
December 18, 2020
Dick’s SG Partners For Same-Day Delivery
Dick’s Sporting Good and Instacart announced that the companies have partnered to launch same-day delivery from more than 150 stores to provide another safe and convenient shopping option for its customers during the holidays and beyond. Stores impacted include Dick’s locations in Connecticut, Delaware, Georgia, Maryland, New Jersey, New York,...
December 15, 2020
USA Cycling just overhauled its youth development system. Here’s why.
The new Olympic Development Academy system charges riders $10,500 to participate, but offers high-performance coaching and racing opportunities to a wider group of cyclists. VeloNews
December 15, 2020
Canyon bicycles set to be acquired by Groupe Bruxelles Lambert
Canyon sought a new equity partner after its relationship with TSG Consumer Partners concluded earlier in 2020. Canyon founder Roman Arnold still however remains the largest individual shareholder in Canyon, with 40% of its shares. VeloNews
December 14, 2020
Spinning creator files patent infringement lawsuit accusing Peloton of stealing its technology for their stationary bikes
Peloton Interactive has been hit with a patent infringement lawsuit from a company credited with sparking the world's indoor cycling craze over half a century ago. Daily Mail
December 10, 2020
Lululemon’s Quarterly Revenue Jumps 22% as Online Sales Soar
Athleisure giant Lululemon reported $1.1 billion in net revenue for its 2020 fiscal third quarter after markets closed on Dec. 10. Quarterly revenue jumped 22% as the as an online sales surge more than compensated for a dip in company-operated store sales. Front Office Sports