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.
March 24, 2020
NIKE, Inc. reports fiscal 2020 third quarter results
Revenues increased to $10.1 billion in the third quarter, up 5 percent on a reported basis and up 7 percent on a currency-neutral basis. Digital sales in Greater China increased more than 30 percent while brick and mortar retail sales were impacted by temporary store closures related to COVID-19. Read more...
March 23, 2020
Peloton temporarily suspends sales and deliveries of its treadmill
Peloton announced that it will temporarily suspend the sale and delivery of its Tread, a treadmill with a touchscreen to stream live and on-demand classes, because the size of the machine is too big to deliver to customers while attempting to maintain physical distance during the novel coronavirus pandemic. Sales of its...
March 19, 2020
Facebook is giving out $100 million in small-business grants.
Tuesday's announcement by Facebook that it will offer $100 million in grants to 30,000 small businesses may well be the sort of watershed moment that's been needed to spur entrepreneurship and small business growth well into the future. Read more and find out where to sign up on Inc.
March 19, 2020
Under Armour announces $2M donation to support those impacted by the coronavirus pandemic
The company said it will split the donation between a pair of nonprofit organizations. Feeding America will receive a donation of $1 million and another $1 million in money and product will go to Good Sports. Under Armour announced that it will close all North American stores from March 16-28. The company, according to...
March 19, 2020
Coronavirus: Santini to start making face masks instead of cycling clothing
The company, which currently supplies clothing to Boels Dolmans, Trek-Segafredo and the UCI World Championships, is hoping to begin production on Monday, March 23. Santini, working in conjunction with local textile manufacturer Sitip, has said that a prototype has already been made. The mask is currently being tested at the Politecnico di Milan before...
March 18, 2020
IRONMAN parent company Wanda Sports Group agrees US$240m loan facility with Credit Suisse
The funding will help Wanda’s sports arm to refinance and prepay its existing 364-day term loan facility, dated 15th Match 2019. The agreement has been made at uncertain times for the sports industry, with WSG announcing earlier in the month that the ongoing coronavirus outbreak could have a ‘material adverse impact’...
March 12, 2020
Cannondale stands out In Dorel’s Q4 earnings
Dorel Industries Inc. - whose bike brands include Cannondale, Schwinn, GT, Mongoose, Caloi, and IronHorse - this week reported revenue for the fourth quarter of $653.4 million, down 4.4 percent from $683.5 million a year ago. The company posted a net loss of $0.6 million or $0.02 per diluted share compared...
March 10, 2020
Serial plaintiff sues Louis Garneau USA over website ADA compliance
An Astoria, N.Y. man who is legally blind is the lead plaintiff in a class action lawsuit filed against Louis Garneau USA. The suit alleges the company's website is not compliant with the Americans With Disabilities Act. The man, Brian Fischler, is the lead plaintiff on dozens of similar lawsuits filed...
March 10, 2020
Wanda Sports Group reports that Coronavirus could have “adverse impact” on business
In a filing sent to the Securities Exchange Commission (SEC) last Friday, WSG, the company that owns IRONMAN, warns that the Coronavirus could adversely affect its Mass Participation, Spectator Sports and DPSS segments, and that adverse effect could be material. Read more Triathlon Magazine.
March 9, 2020
Rossignol considers restructuring, closing or selling its Time Sport frame business
France's Rossignol Group — which besides its ski business owns Rossignol Bike, Time Sport and Felt Bicycle — says it is considering making big changes to the Time frame business and its frame factory in Gajary, Slovakia. The company says frame sales have declined by almost half in the last...