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 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...
March 5, 2020
The Brooks Sports against Brooks Brothers battle continues
Brooks Brothers Group Inc. is fighting back against Brooks Sports Inc. over the right to the “Brooks” moniker. In a filing in U.S. District Court in the Western District of Washington, Brooks Brothers Group denied Brooks Sports’ claims of trademark infringement — accusing the sporting goods brand of violating a 40-year-old trademark coexistence agreement....
March 5, 2020
Hyperice acquires NormaTec
Performance technology company Hyperice announced Thursday it has acquired NormaTec, the creator of the popular pneumatic compression systems. Terms of the deal were not immediately made available, but Hyperice CEO Jim Huether told CNBC with the acquisition, he expects the company’s gross revenue to “more than double within 18 months.”...
March 5, 2020
Dirt Rag’s parent files for Chapter 7 bankruptcy protection
Rotating Mass Media, Ltd., the parent of Dirt Rag, filed a petition for Chapter 7 bankruptcy on Thursday. Dirt Rag announced in late January that it was shutting down its magazine and website, as well as its Dirt Fest and Adventure Fest mountain bike festivals. Dirt Rag would have celebrated...
March 5, 2020
In debt for $32 million, Garneau files for creditor protection
Louis Garneau, the Quebecois sporting equipment manufacturer, is in $32-million worth of debt and has filed for creditor protection under the Bankruptcy and Insolvency Act. The company also announced the “temporary” layoffs of 66 employees at its offices in St-Augustin, Que. Read more on Triathlon Magazine.
March 4, 2020
Fox Factory’s Q4 sales climb 18.5 percent
Sales for the fourth quarter of fiscal 2019 were $185.9 million, an increase of 18.5 percent as compared to sales of $156.8 million in the fourth quarter of fiscal 2018. This increase in sales reflects a 24.2 percent increase in Powered Vehicles Group sales and an 11.3 percent increase in...
March 2, 2020
Nike, Columbia deep clean campuses as coronavirus reaches Oregon
On the heels of the first known coronavirus case in Oregon, Nike and Columbia are taking early action to help prevent the spread. Both businesses conducted deep cleans of their facilities over the weekend. Read more on The Oregonian.