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 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...
June 6, 2024
lululemon (LULU) Gains on Q1 Earnings Beat, Raised FY24 EPS View
LULU reported first-quarter fiscal 2024 results, wherein revenues and earnings surpassed the Zacks Consensus Estimate and improved year over year. The results were driven by strong momentum in the international business as its products resonate well with customers. Innovative product offerings and progress on optimizing the U.S. product assortments also...
June 5, 2024
Echelon Fitness Acquires Advanced Recovery Company ThriveX
Echelon, the maker of at-home exercise equipment for the global fitness, wellness and sports market, acquired ThriveX, the manufacturer of recovery products, including cold immersion systems, smart hybrid saunas and compression boots. “In 2017, Echelon Fitness was founded to address an unmet, rising market need—smart fitness, available across all price points, to consumers...
June 5, 2024
Two Three Bird acquires Project 529
Two Three Bird operates several insurance brands operating globally, including Sundays Insurance, Velosure, Direct Line Cycling Insurance, Wiggle Cycle Insurance, and Bicycle Network Insurance. It plans to bundle Project 529 with Sundays Bicycle Insurance and its Hubtiger workshop and bike rental management software. "Project 529 has become a powerful ally for cyclists,...
May 29, 2024
USA: E-bikes could become more expensive after June 14
In the USA, e-bikes could become significantly more expensive, as importers of Chinese-produced parts will face higher costs. An exclusion from tariffs imposed on imports from China will expire on June 14, meaning importers will pay an extra 25% duty on top of any existing tariffs. The change affects e-bikes,...
May 29, 2024
Dick’s net sales increase 6%, leading to improved full-year outlook
Dick's Sporting Goods reported net sales increased 6.2% year-over-year and raised its full-year outlook. Net sales for the quarter ending May 4 were $3.02 billion, compared with $2.84 billion at the same time last year. Net income for the quarter was $275 million, down 10% year-over-year from $305 million. Earnings...
May 28, 2024
Merida bikes sales drop by 29.8% as industry slump rumbles on
Merida bikes are the latest firm to report a drop in sales in the current year as the effects of the global pandemic period continue to reverberate throughout the bike industry. The brand - which provides bikes for leading WorldTour team Bahrain Victorious - has been forced to stomach a...
May 24, 2024
Deckers CEO Says Innovation is Hoka’s ‘Top Priority,’ as the Performance Shoe Brand Continues to Grab Market Share From Nike
On the product front, Hoka is driving growth and consumer acquisition through innovative updates and new introductions across a diverse assortment of footwear. Innovation is the Hoka brand’s top priority, continuing to develop groundbreaking products that energize consumers around the world. FN