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.
September 17, 2020
Former track and field boss gets two years in prison
Former track federation president Lamine Diack was sentenced Wednesday to two years in prison for corruption during his nearly 16-year tenure at the IAAF, most notably a scheme that allowed Russian athletes who paid millions in hush money to keep competing when they should have been suspended for doping. Read more on...
September 16, 2020
Zwift lands whopping $450 million in funding ked by KKR.
Zwift, a 350-person, Long Beach, California-based online fitness platform that immerses cyclists and runners in 3D-generated worlds, just raised a hefty $450 million in funding led by the investment firm KKR in exchange for a minority stake in its business. Zwift has now raised $620 million altogether and is valued at north...
September 10, 2020
RETAIL Peloton crushes estimates as sales surge 172%, expects strong demand to continue into 2021
Peloton’s fiscal fourth-quarter sales surged as its high-tech stationary bike and treadmill became two of the hottest commodities for people looking to work out at home. Its shares were up nearly 8% in after-hours trading; earnings per share were 27 cents vs. 10 cents expected. Revenue is $607.1 million vs....
September 9, 2020
Under Armour Is Laying Off 600 Employees
Under Armour is the latest company in the retail space to resort to mass layoffs as the pandemic continues to take its toll on the U.S. economy. The athletic apparel and footwear maker also raised its restructuring costs for the year by $75 million and now expects to incur about...
September 8, 2020
LimeLight Sports buys mass participation company Virgin Sport
Sports marketing group LimeLight Sports has announced its acquisition of Virgin Sport, the five-year-old mass participation events business. The deal means that three of the UK’s top participation events - the Asics London 10k, Oxford Half Marathon and Hackney Half Marathon - will now be run by LimeLight Sports Club,...
September 8, 2020
Lululemon quarterly sales top expectations, CEO ‘cautiously optimistic’ for rest of 2020
Lululemon reported surprise revenue growth, despite lockdowns, as stores started reopening and consumers stocked up on workout apparel and yoga accessories. Lululemon’s net income shrank during the second quarter to $86.8 million, or 66 cents a share, from $125 million, or 96 cents a share, a year earlier. Revenue rose...
September 2, 2020
Making Gyms Safer: Why The Virus Is Less Likely To Spread There Than In A Bar
America's empty gyms are beckoning the public back for a workout. To reassure wary customers, owners have put in place a variety of coronavirus control measures. The fitness industry is also trying to rehabilitate itself by pushing back against what it sees as a misleading narrative that gyms have no...
August 31, 2020
Athleta’s comps soar on strength in active
Athleta’s same-store sales climbed 19 percent in the second quarter as the chain tapped into the overall momentum in active apparel in the quarter, according to the quarterly results of its parent, Gap Inc. Online sales at Athleta grew 74 percent to offset a 45 percent drop in in-store sales....
August 31, 2020
In a world without races, how sports nutrition companies are adapting
From supporting runners virtually to donating food to frontline workers, some of your favorite brands have shifted their focus away from competition and toward community. Read more on Runner's World.
August 26, 2020
Dick’s Sporting Goods Reports 194% Q2 Increase in Online Sales
A number of sporting goods retailers have reported major boosts to their sales, with people embracing fitness and outdoor activities, while other pastimes are inaccessible. Dick’s Sporting Goods’ digital sales skyrocketed in the quarter running April to June. Online sales, including curbside pickup, grew 194% year-over-year. The company reported that...