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.
June 23, 2020
Fleet Feet Finds E-Commerce Boost Amid Pandemic
Fleet Feet has reopened 170 of its 184 stores in some capacity to strong initial results for many franchisees, according to a profile in Forbes. A decision to build a shared, central e-commerce site for all stores proved to be beneficial as stores were closed. Read more on SGBMedia.
June 22, 2020
CrossFit owner fostered sexist company culture, workers say
Women report getting lewd assessments of their bodies, among other mistreatment from top male management. Read more in NYT.
June 18, 2020
New Balance is closing its stores for Juneteenth and giving all employees the day off
New Balance will close all operations — including its owned retail stores — on Friday in observance of Juneteenth. Although Juneteenth is not a federal holiday, 47 states and Washington, D.C. recognize the day as either a state holiday or a day of observance. This year, the day has taken on increased symbolic significance...
June 17, 2020
Sporting goods sales surge 88%
Retail sales rose dramatically in May as retailers and other businesses closed by the coronavirus pandemic began to reopen, although things remained well below spending levels seen during the same period a year ago, the National Retail Federation said. Sporting goods, however, was a bright spot, up 88.2 percent month-over-month...
June 16, 2020
Bike market skyrockets, with sales up 75% in April
U.S. cycling sales through all retail channels grew 75% in April to a total of about $1 billion in retail sales for the month, according to The NPD Group. NPD said April was the first month since NPD began tracking the cycling market that sales have reached $1 billion in...
June 16, 2020
How one rider got Strava to remove racially offensive segment names
Californian Nehemiah Brown pushed Strava to remove segments in his area that had racially insensitive names. Now, Brown is holding a ride to raise funds for the Equal Justice Initiative. Read more on VeloNews.
June 16, 2020
Former Wigwam CEO sues sock maker for breach of contract after sudden termination in April
The former CEO of Wigwam Mills, Inc. is suing the company for failing to follow the termination procedures outlined in his contract after he said he was fired without cause in April. The lawsuit comes weeks after the century-old sock-making company laid off 121 of its 142 employees because of "unforeseen adverse circumstances" related to...
June 15, 2020
After backlash, Ironman ‘pauses’ Women For Tri Facebook group
Thousands of members left the Women for Tri Facebook group and board members stepped down from their admin roles in response to disputes over posts about #blacklivesmatter. Read more on Triathlete.
June 15, 2020
24 Hour Fitness declares bankruptcy, citing “devastating” coronavirus hit
24 Hour Fitness has filed for bankruptcy protection, marking the second national gym chain to go under since the coronavirus pandemic erupted across the U.S (Gold's Gym filed for bankruptcy last month). The bankruptcy comes one day after the company said it will permanently close 100 locations nationwide. Read more on CNBC.
June 11, 2020
Lululemon earnings miss despite online surge but CEO upbeat on new normal
Lululemon earnings tumbled to 22 cents a share with revenue down 17% to $652 million. E-commerce revenue jumped 68% to $352 million. Digital sales accounted for 54% of total revenue. Read more on IBD.