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 18, 2020
Thinking of buying a bike? Get ready for a very long wait.
The United States is facing a shortage of bicycles as anxiety over public transportation and desire to exercise has sent the demand surging. Read more in New York Times.
May 18, 2020
Cycling sales surge in first quarter
Cycling sales increased 31 percent to $1.3 billion in the first quarter of the year, according to NPD. Find out what types of bikes made the biggest jump in sales on SGBMedia.
May 13, 2020
70% of US Olympic sports applied for PPP funds
The Associated Press surveyed 44 of the country’s national governing bodies (NGBs) and all but four of the 36 NGBs that responded said they had applied for assistance from the Paycheck Protection Program. Not all the organizations revealed how much they received, but those who did have been approved for...
May 11, 2020
Under Armour sales plummet 23% as coronavirus stalls turnaround plans
The company expects revenue could be down as much as 50% to 60% during the second quarter, as demand for its merchandise remains constrained. Read the numbers on CNBC.
May 11, 2020
Dorel Sports reports fourth consecutive quarter of revenue growth
Dorel Sports has reported its fourth consecutive quarter of revenue growth in the first quarter of 2020 at $188.2 million, an increase of $3.6 million, or 2.0%, compared to a year ago. Sales improvements were at Cycling Sports Group (CSG) and Pacific Cycle (PCG), partially offset by weakness at Caloi. Read...
May 11, 2020
Colnago sold to UAE group
Chimera Investments LLC, an investment fund based in Abu Dhabi, United Arab Emirates, has acquired a majority of the shares in Colnago, the Italian road bike brand. Ernesto Colnago founded the company in 1954. His bikes have been used to win world championships, Olympic medals, the Tour de France, the Giro...
May 7, 2020
Sporting goods, home fitness, and cycling sales surge in the U.S., reports The NPD Group
As U.S. consumers tackle ways to keep themselves and their families busy, active, and fit during this time of social distancing, sports and home fitness equipment as well as children’s and adult leisure bicycles have seen double- and triple-digit sales increases, according to retail sales data from The NPD Group. Read...
May 6, 2020
Peloton Q3 earnings show huge revenue and membership spikes
Peloton bested Wall Street's high expectations, delivering a huge quarterly earnings report Wednesday that showed revenues climbing 66%. The company posted total revenues of $524.6 million for the quarter, besting estimates of $488.5 million. Total members grew from 2.0 million in Q2 to 2.6 million in Q3, a 30% quarter-over-quarter increase....
May 6, 2020
Fitbit swings to profit in Q1 but misses estimates
Revenue dropped by 31% due to weakness in pricing and devices sold. The company sold 2.2 million devices, down 26% year-over-year, due to the introduction of one new product in the latest quarter compared to three new products last year. The average selling price decreased by 11% year-over-year to $81 per...
May 6, 2020
Running on empty: Coronavirus has changed the course for races big and small
The race organizations staging running events are having to grapple with postponements and cancellations to a point where they may not be able to ever come back at full strength. Check out this interesting article and stats on ESPN.