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.
June 27, 2024
Nike Inc. Beats Q4 EPS Estimates But Warns of Fiscal 2025 Guidance Cut
Nike, Inc. reported earnings in the fiscal fourth quarter ended May 31 exceeded analysts’ consensus targets by 17 cents but also warned that it would downwardly adjust its guidance for the coming year due to continued “challenges” in the marketplace. Earnings in the fourth quarter reached $1.01, excluding charges, compared...
June 27, 2024
Classified Cycling Names Head of Marketing and Communications
Classified Cycling has hired James Vickers as head of marketing and communications. Vickers previously worked at Muuvr, Wahoo Fitness and Wattbike in various marketing roles. SGB
June 24, 2024
Under Armour Reaches $434 Million Settlement in Shareholder Lawsuit
Under Armour Inc. agreed to pay $434 million to settle a 2017 lawsuit into claims that the company defrauded shareholders about its revenue growth in order to meet Wall Street forecasts. Under Armour said it has consistently denied the accusations and entered into this agreement in principle, which is not...
June 22, 2024
Jury awards more than $13 million to ultramarathon athlete injured in fall on a Seattle sidewalk
A jury awarded $13.1 million to an ultramarathon athlete who was severely injured when she fell on a Seattle sidewalk in 2021. Lesley Mettler Auld, 53, said that she will never run again and struggles to walk after the fall on a sidewalk in Seattle's Queen Anne neighborhood. The professional...
June 21, 2024
Nike Execs Accused of Misleading Investors About DTC Progress in New Suit
A new lawsuit is accusing Nike of misleading investors about its purported success in its direct-to-consumer strategy. A class action suit filed by Kessler Topaz Meltzer & Check, LLP on Thursday claims that Nike chief executive officer John Donahoe and Nike chief financial officer Matthew Friend failed to reveal to shareholders that the company’s...
June 20, 2024
Zing Coach Raises $10M for Feature-Packed AI Fitness App
That’s the idea behind Zing Coach, a fitness app backed by health tech company Palta, which just raised $10 million in equity and debt financing in a Series A funding round. Zing Coach will use the funding to enhance its technology and features, enter new markets and expand its team....
June 17, 2024
Asics Is the Fastest-Growing Footwear Brand in the U.S. Outdoor Specialty Market
Asics is having a moment in the critically-important outdoor specialty retail channel. On Monday, consumer insights firm Circana announced the winners of its fourth annual Outdoor Sports Retail Performance Awards. Circana explained its awards acknowledge the fastest-growing brands in the U.S. outdoor and snow specialty retail channels based on in-store and...
June 17, 2024
Adidas investigates bribery allegations in China
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June 12, 2024
Around 20 layoffs expected at GCN as founder buys back company
Around 20 employees are reportedly facing redundancy at GCN as the company's founder, Simon Wear, has bought back a majority stake in the brand from Warner Bros. Discovery. Escape Collective
June 7, 2024
Samsung Sues Oura: A Closer Look at The Preemptive Smackdown
Samsung noted that after the January 17th, 2024 announcement of the Galaxy Ring, they received FCC certification back on March 28th (2024), followed by the finalization of the design in May. They’ll start production in the next few weeks, and then expect to “begin sales and shipments” this August. The...