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, 2024
Asics Delivers Q1 Wholesale Growth in North America, Bolstered By Speciality Run Channel
Asics North America got a lift in wholesale sales during the first quarter of 2024. And U.S. sales in the specialty run channel were a large part of that. The Japan-based athletic brand‘s sales in the United States, Canada and Mexico all saw double-digit growth in the quarter compared to the prior...
May 10, 2024
World Triathlon and PTO announce new anti-doping measures for long distance triathlon
World Triathlon and the Professional Triathletes Organisation (PTO) have announced new anti-doping measures, including a growing, global Registered Testing Pool (RTP) that will see athletes tested in and out of competition for the new T100 Triathlon World Tour. It will be delivered by the International Testing Agency (ITA) acting on...
May 7, 2024
Private equity firms circle Peloton for potential buyout
A number of private equity firms have been considering a buyout of Peloton as the connected fitness company looks to refinance its debt and get back to growth after 13 straight quarters of losses, CNBC has learned. Firms have zeroed in on how to cut Peloton’s operating expenses to make a buyout...
May 2, 2024
Fox Factory Posts Q1 Loss as Sales Fall in Mid-Teens, Bike Sales Post $65M Decline
Fox Factory Holding Corp. reported a 16.6 percent decrease in net sales for the first quarter to $333.5 million compared to net sales of $399.9 million in the first quarter of fiscal 2023. Aftermarket Applications Group (AAG) net sales declined $36.9 million, or 26.6 percent, year-over-year. The decrease in AAG...
May 2, 2024
Peloton CEO Steps Down; Company Cutting About 400 Jobs
Barry McCarthy is stepping down as Peloton’s CEO, president and Board director. Peloton Board members Karen Boone and Chris Bruzzo will serve as interim Co-CEOs; Jay Hoag will become the chairperson of Peloton’s Board of Directors. Peloton Interactive, Inc. announced that Barry McCarthy is stepping down as president, CEO and Peloton Board director and take...
May 2, 2024
Brooks Achieves Highest Quarterly Results in the Brand’s History in Q1
In the first quarter of 2024, the Seattle-based performance running brand reported a 9 percent year-over-year increase in revenue. This marks the company’s highest quarterly results in the brand’s history, Brooks said in a statement. In an interview with FN, Brooks’ new chief executive officer Dan Sheridan said that North America led...
May 1, 2024
Amer Sports sells Enve Composites to private investment firm
Enve Composites has been sold by Amer Sports to PV3, a Utah-based private investment firm. Amer Sports’ chief operating officer Michael Hauge Sørensen said: “Enve has gone through major changes in the past years. The brand has positive momentum, and we see that it has good potential. Enve Composites was founded in 2007...
May 1, 2024
Wolverine Worldwide Enters Licensing Agreements for Merrell and Saucony Brands
Wolverine World Wide, Inc. announced that it entered two new global licensing agreements as part of its ongoing “strategic transformation” into a brand-led growth company. Under the first agreement, Vida Shoes International will become the global licensee for Merrell and Saucony kids footwear, with rights to these products in almost all markets...
April 30, 2024
Adidas Swings to Q1 Profit as DTC Drives Top-Line Growth
Adidas is reporting that currency-neutral (c-n) revenues increased 8 percent in the first quarter of 2024, compared to the the 2023 first quarter. The better-than-expected performance was said to be driven by the “strong momentum” of the underlying Adidas business, which grew 5 percent in the period. In addition, the...
April 27, 2024
Rapha abruptly closes North America office and lays off staff
Rapha has abruptly closed its North American office and laid off six of its eight staff as the clothing brand says it is “realigning Rapha to better reflect our strategic priorities and current market dynamics.” Rapha CEO Francois Convercey siad that the layoffs were part of a consolidation plan. Rapha’s...