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.
July 1, 2020
Big splash in swim-related markets: HEAD acquires Zoggs
HEAD, the leading global sporting goods group that owns the HEAD, PENN and MARES brands, has announced the acquisition of goggles and swimwear maker Zoggs, which holds leading market positions in the UK, Australia and various distributor markets. Read about it on Endurance Business.
June 30, 2020
Garmin acquires Firstbeat Analytics
Wearable and GPS application company Garmin is acquiring Firstbeat Analytics, a business that analyzes heartbeat data from consumer devices in the health, wellness, fitness and performance markets. They are planning to integrate Firstbeat's data and analytics capabilities into its range of fitness trackers. Read more on ZDNet.
June 30, 2020
Gym owners unite to file lawsuit against New York State
Not equal under the law – this is the argument CrossFit athlete Charlie Cassara and a collective of 3,000 gyms across New York claim - that the state allegedly did not allow fitness organizations to prove they could reopen. Cassara and the NY gyms will file a collective class action lawsuit against...
June 29, 2020
Lululemon To Acquire In-Home Fitness Company MIRROR for $500 Million
lululemon athletica inc. announced that it has entered into a definitive agreement to acquire MIRROR, a leading in-home fitness company that created an interactive workout platform that features live and on-demand classes, for a purchase price of $500 million. Read about it on Shop-Eat-Surf.
June 25, 2020
Nike Reports $790 Million Quarterly Loss
Nike Inc. reported a loss of $790 million, or 51 cents a share, in the fourth quarter ended May 31, driven by lower revenue and gross margin as a result of the COVID-19 impact on operations. Sales decreased 38% to $6.3 billion. Read more on SGB Online.
June 24, 2020
CrossFit Has a New CEO and Owner
CrossFit announced it has a new CEO and owner, Eric Roza, replacing former CEO Greg Glassman who resigned after making an insensitive comment on Twitter regarding George Floyd. Read more on Footwear 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...