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 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...
July 22, 2020
Nike Announces Major Reorganization, Job Cuts
NIKE, Inc. announced a series of senior leadership changes supporting the company’s Consumer Direct Acceleration. Amy Montagne becomes VP/GM, Men’s, Whitney Malkiel becomes VP/GM, Women’s and McCallester Dowers becomes VP/GM, Kids. Carl Grebert becomes VP/GM, EMEA, succeeding Bert Hoyt, who will retire from NIKE later in 2020. Sarah Mensah is...
July 22, 2020
Mavic saved by French investment group
After months of deliberations, courts in Grenoble have awarded investment group Bourrelier the ownership of historic French cycling brand Mavic SAS. 105 jobs were saved by the takeover as the new owners plan to refocus on rim, hub and wheel production. Read more on VeloNews.
July 21, 2020
New York Road Runners lays off 11 percent of its workforce
New York Road Runners, the nation’s largest nonprofit running association, announced on July 21 that it is laying off 11 percent of its workforce and furloughing another 28 percent, as the coronavirus continues to wreak havoc on the running industry. The moves affect 91 of the organization’s 229 employees—65 were furloughed and 26...
July 17, 2020
How to Pitch and Freelance for Outside Magazine
The publisher of stories about adventure sports, gear, travel, fitness, health, culture, and the environment is always on the lookout for reporting, essays, service pieces, and cultural criticism focused on the outdoor world. If you want to be part of their team, read more on Outside.
July 17, 2020
Fox drops offer to acquire Mavic, but about 13 potential buyers remain
The thirteen other groups include include several with ties to the bike industry. The Badger is still in the hunt, but French administrators will decide on the winning bid this month. Read more on Bicycle Retailer.
July 15, 2020
LeMond Bicycles moves $2 million closer to launch
LeMond Bicycles LLC recently raised a bit over $2 million in a private placement investment, possibly bringing the company closer to launching a bike line using technology developed by Greg LeMond's other business, LeMond Carbon. Read more on Bicycle Retailer.
July 14, 2020
Gold’s Gym To Be Acquired By Berlin’s RSG Group
RSG Group GmbH, the largest fitness center chain in Germany with 246 studios in Germany, Austria, Italy, Poland, and Spain, was selected as the winning bidder to acquire Gold’s Gym in a court-approved auction held on July 13. Read more on SGBMedia.
July 14, 2020
Yeti Cycles Eliminates ‘Tribe’ From Its Community Name, Marketing
For decades, Yeti Cycles has used the word ‘tribe’ to define fellow Yeti bike riders. That ends on July 14, following a #NotYourTribe Change.org petition that started circulating last week asking Yeti to eliminate “tribe” from its marketing. Read more on GearJunkie.