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 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.
May 4, 2020
International Triathlon Union forecasting loss of at least $1 million in 2020
The International Triathlon Union (ITU) is expecting a loss of up to $1.4 million in 2020 as a result of the coronavirus crisis, but the organisation will not ask for an advance on its Tokyo 2020 payment from the International Olympic Committee (IOC). Read how much money they typically get...
May 4, 2020
Gold’s Gym files for Chapter 11 bankruptcy protection amid coronavirus closings
Gold's Gym filed for Chapter 11 bankruptcy protection Monday as the coronavirus pandemic wreaks havoc on the company's business. The bankruptcy is intended to help the company shed leases. Gold’s Gym will has nearly 700 locations, including about 63 company-owned and operated. Read more on USA Today.
May 4, 2020
Event cancellations plague Emerald’s Q1 performance
Because of numerous event cancellations due to the COVID-19 pandemic, Emerald Holding Inc.—the operator of Outdoor Retailer, Surf Expo and other trade shows—reported revenue for the first quarter declined 27.4 percent to $99.7 million. Read more on SGBMedia.
April 30, 2020
Wanda Sports’ 2019 revenues reach US$1.15bn
Wanda Sports Group’s (WSG) total revenues for 2019 fell to US$1.15 billion, representing an annual decrease of nine per cent compared to the previous year. WSG chief executive Hengming Yang used the annual filing to express his confidence that the events and marketing agency can weather the impact of the ongoing coronavirus pandemic, citing...