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 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.
February 27, 2020
Peloton and NMPA agree to settle copyright infringement lawsuit
Peloton and The National Music Publishers' Association (NMPA), the trade association representing all American music publishers and their songwriting partners, announced that they have reached an agreement to “fully settled the litigation brought last year by 14 NMPA members.” It was also announced that Peloton and the trade association entered into a joint...
February 24, 2020
Spartan offers relief for cancelled Tough Mudder events
Spartan offers relief for cancelled Tough Mudder events. According to Spartan Race's CEO Joe Desena, Tough Mudder tickets for any event not held will be transferable to any other Tough Mudder event in 20/21. Additionally, registrants will also receive two Spartan open entries of any distance, anywhere in the world....
February 24, 2020
Brooks Sports Sees 3.5 Percent Revenue Gain In 2019
Brooks Sports saw sales climb 3.5 percent in 2019 despite the opening of a new distribution center that presented logistical challenges, according to the annual report of the running brand’s parent, Berkshire Hathaway. Read more on SGB Media.
February 20, 2020
Fitbit earnings show worst holiday sales performance since IPO amid Google acquisition
Fitbit Inc. holiday sales declined more than 12% to the lowest fourth-quarter total for the company since it went public amid an acquisition attempt by Alphabet Inc. according to an earnings report released Thursday afternoon. Fitbit reported fourth-quarter losses of $120.8 million, or 46 cents a share, on sales of $502.1 million,...
February 19, 2020
Garmin’s Q4 beats expectations on strong fitness growth
Garmin Ltd. reported fourth-quarter earnings that beat expectations and provided an upbeat outlook for 2020. All of Garmin’s business segments beat expectations, led by Fitness, up 34 percent; Marine and Aviation, both up 22 percent; and Outdoor, up 16 percent. See the earnings on SGB Media.
February 17, 2020
Wanda Sports considering $1 billion sale of Ironman triathlon
Wanda Sports Group Co. is considering selling the Ironman triathlon business it bought in 2015, according to people familiar with the matter. The company, part of Chinese billionaire Wang Jianlin’s conglomerate, is working with an adviser and has held discussions with some private-equity buyers that expressed interest in the business according to...