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.
October 19, 2020
YogaWorks Files For Bankruptcy, To Closes All Studios
YogaWorks has filed for Chapter 11 bankruptcy protection but will continue to offer its digital and live-stream content. Serene Investment Management has agreed to acquire the YogaWorks digital and education business and intellectual property. YogaWorks Live and MyYogaWorks, as well as its teacher training and workshop departments will continue operation,...
October 16, 2020
Peloton Recalls Pedals That Might Break on 27,000 Stationary Bikes
The stationary bike juggernaut Peloton announced that it was recalling about 54,000 clip-in pedals off 27,000 stationary bikes. The brand received 120 reports of pedal breakage, including 16 incidents leading to leg injuries, with some requiring stitches. Read more on GearJunkie.
October 15, 2020
COVID-19 outbreak at cycling studio leads to 69 cases and counting
At least 69 people, spread among staff and patrons at Spinco from Sept. 28 to Oct. 4, have been infected with the coronavirus in Hamilton Ontario, Canada, after a series of classes at a cycling studio led to an outbreak, even though there were many safety protocols in place. Public...
October 13, 2020
Fitness tech company JAXJOX raises $10M as it gets ready to ship AI-enabled workout system
JAXJOX, a fitness technology company, has raised $10 million in a new funding round to help pay for the research and development of its signature InteractiveStudio workout equipment. The Series A round included investors Dowgate Capital Ltd. and entrepreneur Nigel Wray, and brings total funding to $17 million for the...
October 9, 2020
SPORTS Performance tech company Hyperice attracts slew of star athlete-investors, valued at $700 million
Performance technology company Hyperice has completed a Series A funding round for $48 million, which puts the firm at a $700 million valuation. The prominent athlete-investors, include NBA stars Anthony Davis, Chris Paul, Russell Westbrook, DeAndre Jordan, new Philadelphia 76ers coach Doc Rivers, and 2020 U.S. Open winner Naomi Osaka....
October 8, 2020
Dick’s Sporting Goods Is Hiring 9,000 Workers to Meet Online Demand During the Holidays
Dick’s Sporting Goods will employ the seasonal associates as part of its third annual “National Signing Day” on Oct. 14. They will provide extra staffing to their stores and distribution centers across the country, as well as its contactless services, like curbside pickup and ship-from-store orders. Read more on Footwear...
October 8, 2020
Nike Cutting 7-10% of Workforce as Part of Reorganization
Nike CEO John Donahoe sent a letter to employees in June where he wrote the company would overhaul its management structure that would likely result in job cuts. Nike has already laid off more than 100 vice presidents over the summer, and in a note to investors, its overall job...
October 7, 2020
ESPN Poised to Potentially Lay Off Hundreds
The economic shutdown caused by the pandemic is sparking painful fallout for media companies. ESPN could lay off hundreds of – sources pegged the potential number of job losses between 300 to 700 employees. The cuts will hit hardest the ESPN employees who work behind the camera, but some on-camera...
October 6, 2020
Emerald Holding Launches Stock Buyback Plan
Emerald Holding Inc., the parent of Outdoor Retailer, Surf Expo and other trade shows, announced that its Board of Directors has approved the repurchase of up to an aggregate of $20 million of its common stock. The repurchases will be on the open market at prevailing market prices, and will continue...
October 5, 2020
Parent company shutters Bike magazine
A360 Media, which acquired Bike magazine last year, is “pausing” the mountain bike magazine and its digital publications indefinitely. A360 Media notified Bike editorial and sales staffers Friday afternoon that they were being furloughed. On Friday A360 Media also furloughed staff at its Snowboarder and Surfer magazines, and Powder magazine staff will be furloughed Nov. 20. Read more on Bicycle Retailer.