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 5, 2020
Peloton Raises Guidance After Cruising To Q2 Beat
In just its second quarterly earnings report since going public, Peloton Interactive Inc. notched impressive earnings and revenue beat as the company grew its number of connected fitness subscribers 96 percent to 712,005 and its total members to more than 2 million. Read what the earnings look like on SGBMedia.
February 4, 2020
Peloton and Flywheel Sports settle litigation cases
Indoor cycling business Peloton has settled its patent infringement case against Flywheel Sports, with Flywheel simultaneously dropping a separate counter proceeding at the U.S. Patent and Trademark office. Within the court documents, Flywheel made the admission that Peloton’s patents were indeed valid and enforceable. The patents relate to Peloton’s “at home”, “remote streaming” and...
January 30, 2020
Asics Ventures invests in smart shoe technology
Asics Corporation announced that its investment subsidiary Asics Ventures Corporation invested in a Japanese startup, No New Folk Studio Inc., the developer of sensing solution Orphe Track which measures and analyses foot movement. Asics, in conjunction with No New Folk Studio, developed a smart running shoe that gives runners real-time...
January 30, 2020
Hoka One One drives parent Deckers Brands to Q3 earnings, sales beat
For the period ended Dec. 31, the company posted Q3 earnings of $7.41 per share, surpassing consensus bets of $6.55 a share. Sales also jumped 7.4% to $938.74 million, compared with Wall Street estimates of $900.43 million. Hoka One One — which outshone sister labels Ugg, Teva and Sanuk — reported sales...
January 21, 2020
More Than Half of Polyester in Adidas’ Sneakers Will Be Recycled This Year
Adidas has achieved a major milestone on the sustainability front. The sportswear giant has announced that more than half of the polyester used in its products this year will come from recycled plastic waste. It also shared plans to use only recycled polyester starting in 2024. Further, the Three Stripes expects to produce...
January 16, 2020
Spartan co-founder Will Dean concedes to bankruptcy process
Will Dean filed a Notice of Consent To Order For Relief And Appointment of a Chapter 11 Trustee. The motion states that he “…will cooperate with the trustee to preserve value for the creditors” and that the Board “consents to a sale of the business to Spartan Race Holdings. Inc.,...
January 13, 2020
Spartan Pushes Tough Mudder Toward Chapter 11
The saga continues with Tough Mudder, its co-founder, the companies it owes money to, and Spartan, who wants to acquire them. Spartan has filed a statement in support of an emergency motion of petitioning creditors to appoint a Chapter 11 trustee. Read more on MudRunGuide.
January 13, 2020
U.S. to probe Fitbit, Garmin, other wearable devices after Philips complains
U.S. trade regulators said on Friday they will investigate wearable monitoring devices, including those made by Fitbit Inc (FIT.N) and Garmin Ltd (GRMN.O), following allegations of patent violations by rival Koninklijke Philips (PHG.AS) and its North America unit. More info on Reuters.
January 9, 2020
How Target could rival Nike and Adidas with its new athletic brand
Target has big ambitions in the athletic space. The chain today announced the launch of All in Motion, a private-label athletic and sporting goods brand — and it says the label could do $1 billion in sales in its first year. The size-inclusive brand launches this month with men’s, women’s and children’s...
January 9, 2020
Fitness device upstart takes on Apple, Peloton, Fitbit at CES 2020
China-based Huami (HMI) already has set its sights on being the innovation leader in the wearable fitness device market. Now the ambitious company, little known in the U.S., is making a splash at CES 2020 with a lineup of impressive new contraptions, and not all of them wearable. Not familiar with the...