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.
February 17, 2020
Charity founded by disgraced cyclist announces relaunch plan
The cancer charity whose yellow wristbands became a global brand under founder Lance Armstrong is seeking to reinvent itself, years after donations and revenues crashed along with the disgraced cyclist’s career. Armstrong was nowhere to be seen earlier this month during Livestrong’s “relaunch” ceremony in Austin, and gone are the yellow...
February 17, 2020
Asics’ Q4 sales In North America show modest decline
Asics Corp.’s sales in the North American region in the fourth quarter slid 5.5 percent to ¥18.8 billion ($171 mm) from ¥19.9 billion a year ago. The operating loss in the region was reduced to ¥2.12 billion ($19 mm) from ¥2.95 billion. Read more about the decline on SGB Media.
February 12, 2020
Spartan officially acquires Tough Mudder UK
As has been reported in recent weeks, Spartan has been acquiring the UK properties of Tough Mudder. Today it became official and all events scheduled for 2020 will occur as planned. This includes a Tough Mudder City event taking place on April 17-18, and Europes’ Toughest Mudder, which is 12 hour overnight event on June...
February 12, 2020
Mizuno’s Sales Slide In Nine Months
Mizuno Corp. reported revenues in the nine months ended December 31 declined 3.9 percent. Revenues reached ¥122.7 billion ($1.12 bn). In the Americas region, sales grew 8.6 percent to ¥15.2 billion ($138 mm) from ¥14.0 billion. Mizuno said sales in golf and running were strong in the Americas. Read more on SGB...
February 12, 2020
‘McDreamy’ to be honorary captain of US Olympic cycling team
Patrick Dempsey will serve as the honorary captain for the U.S. cycling team at the Tokyo Olympics this summer, part of a unique working relationship between USA Cycling and the actor best known for his role on the TV show “Grey's Anatomy.” Read more about why USA Cycling reached out to...
February 11, 2020
Under Armour misses Q4 targets and delivers weak outlook
Under Armour Inc. reported an unexpected fourth-quarter loss and missed Wall Street estimates for its revenues. The company also warned of soft 2020 results and said it’s considering another massive restructuring initiative to rebalance its cost base. Click on SGBMedia to see the numbers.
February 11, 2020
Berkshire’s Brooks running unit sues Brooks Brothers over trademark
Brooks, the running shoe and apparel unit of billionaire Warren Buffett’s Berkshire Hathaway Inc, filed a trademark infringement lawsuit against Brooks Brothers, pitting two companies whose roots date back more than a century against each other. Read more on Reuters.
February 6, 2020
Skechers stock soars after Q4 sales beat forecasts, brand warns of coronavirus impact
Shares for Skechers USA Inc. surged in after-hours trading on Thursday after the shoemaker posted fourth-quarter sales that blew past expectations. In its financial report for the period ended Dec. 31, Skechers logged revenues that rose 23.1% to $1.33 billion, compared with analysts’ predictions of $1.25 billion. Earnings per share were in line...
February 5, 2020
Nike, Adidas say coronavirus will hurt business in China
Nike Inc. closed about half of its company-owned stores in China as a result of the coronavirus outbreak, which it expects to have a material impact on operations in the country. Rival brand Adidas AG followed suit Wednesday, saying it has closed a significant number of stores in China and franchisees are doing likewise. Read more...
February 5, 2020
Pioneer sells cycle sports business to Shimano
Cycling power meter specialist Pioneer has signed an agreement to transfer its cycle sports business to Shimano. Shimano plans to develop products, web services and applications using the Pioneer Cycle Sports assets and make Shimano services available to customers who currently use Pioneer’s Cyclo-Sphere web services, PC tool, and smartphone applications. Read more...