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.
August 5, 2022
Fox Factory announce 28.1% bike division sales boost in Q2
Q2 financial results from Fox Factory Holding Corp. today highlighted a sales increased 23.9% to $406.7 million, compared to $328.2 million in the same period last fiscal year. Gross profit increased 28.7% to $142.9 million, compared to $111.1 million in the same period last fiscal year. This increase reflects a...
August 5, 2022
tentreeⓇ Recognized with the B Corps 2022 Best for the World™ Award in the Community Category
Vancouver, BC (August 5, 2022) /ENDURANCE SPORTSWIRE/ - tentreeⓇ is honored to be a recipient of the 2022 Best for the World™ Award, distributed by B Lab Global–the nonprofit network that certifies and mobilizes B Corporations™. This award recognizes Certified B Corps around the world whose verified B Impact Scores...
August 4, 2022
Adidas’ Operating Profit Plummets 28%, Faces Legal Battles
Adidas reported a 28% decline in second-quarter operating profit to $398.4 million due to suspending its business in Russia, pandemic-related lockdowns in China and Vietnam, and higher supply chain costs. The company was able to lock in a 4% increase in currency-neutral revenue. Net income fell to roughly $366.8 million...
August 3, 2022
E-bikes Changing the Channels
The recent Eurobike event, held live in July in Frankfurt Germany, all but confirmed things: e-bikes are still booming and remain an opportunity. “This year you’d have been forgiven for thinking Eurobike was an e-bike show,” reported Will Jones for Cyclingnews. Inside Outdoor
August 3, 2022
Under Armour cuts profit outlook for the full year as promotions eat into margins
Under Armour on Wednesday cut its profit forecast for the fiscal year 2023 as more promotions on its athletic apparel ate into margins. The company now expects earnings per share for the full year to come in between 61 cents and 67 cents, down from earlier guidance of between 79...
August 2, 2022
Ex-NFL Nutrition and Strength Coach Pratik Patel Joins Nix Biosensors As Director of Human Performance
BOSTON, MASS. — AUGUST 2, 2022/ENDURANCE SPORTSWIRE/ – Nix, the biosensor company delivering health and wellness data to consumers, today officially welcomes Pratik Patel, former Director of Performance Nutrition and Assistant Strength & Conditioning Coach for the New York Giants, to its rapidly growing team. As Nix’s Director of Human Performance, Patel...
August 1, 2022
Pepsi to pay US$550m for 8.5% stake in fitness-drink maker Celsius
PEPSI will pay US$550 million for a stake in fitness-energy drink maker Celsius Holdings as part of a long-term strategic distribution agreement. Pepsi is getting convertible preferred stock equating to 8.5 per cent ownership in Celsius, the companies said on Monday (Aug 1) in a statement. The soft drink giant...
July 29, 2022
LeBron James’ investment group invests $30M in Canyon Bicycles
Canyon Bicycles announced that two investment groups have taken strategic equity investments totaling $30 million in the Germany-based company. One of the groups, LRMR Ventures, is the investment group of basketball star LeBron James and James' longtime friend and business partner Maverick Carter. The other new investor is SC Holdings, which...
July 29, 2022
F45 Training Shares Tumble as CEO Quits, Wahlberg Sells
Australian fitness class company F45 Training saw shares plummet more than 60% this week following the departure of chief executive and co-founder Adam Gilchrist. Gilchrist relinquishing his role as CEO comes amid a strategic reorganization by F45 to adhere to “changing macroeconomic and business conditions.” The reorganization also cut 110 jobs at the...
July 29, 2022
BikeExchange / Kitzuma Cycling Logistics Merger Proving Highly Successful
Asheville, North Carolina (July 28, 2022) /ENDURANCE SPORTSWIRE/ - After joining forces in December, two rising industry disrupters – Kitzuma Cycling Logistics, offering fully-assembled bike deliveries nationwide, and BikeExchange, an online storefront for retailers, manufacturers and consumers across the country – continue to change the way bikes are bought, sold and...
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