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 30, 2021
Peloton’s full-year revenues exceed $4 billion, but growth slows and losses mount
Peloton Interactive's fourth-quarter revenue grew 54% over last year's final quarter, to $937 million, as the company's fiscal year revenues topped $4 billion for the first time. However, although the quarterly sales total was ahead of estimates, the company lost $313 million in the quarter and the growth rate declined from...
August 30, 2021
WHOOP Looks to Acquire Tech Companies After $200M Raise
Fitness wearable company WHOOP raised $200 million at a $3.6 billion valuation, roughly doubling its previous fundraising total and tripling its valuation from a round in October 2020. The Series F round, announced on Monday, was led by Softbank Vision Fund 2. FOS
August 30, 2021
MYLAPS, Datasport, and Abavent announce long-term timing partnership
Haarlem/Obergerlafingen, 30 August 2021 – Datasport, based in Switzerland, and its German sister company Abavent have worked together for many years with iconic races like Escalade, Jungfrau-Marathon, Engadin Skimarathon, Einstein Marathon, Ötztaler Radmarathon, HERO World series, and BDR-related events. These 2 companies are involved in more than 500 sports events...
August 27, 2021
Schwinn and Mongoose Roll with Backbone Media
MADISON, Wis. – Iconic cycling brands Schwinn and Mongoose, two brands of Dorel Industries, Inc. (TSX: DII.B, DII.A), have hired active lifestyle agency Backbone Media as its public relations agency of record. Backbone will work to amplify each brand’s storytelling and drive awareness for Schwinn and Mongoose’s extensive line of...
August 26, 2021
Lululemon Raises Minimum Base Pay
Effective Sept. 27, 2021, lululemon will raise the minimum base pay for the majority of its store and Guest Education Centre) employees in North America. As part of the additional investments, people who are currently employed, and individuals who are hired from this point forward, will receive a new minimum...
August 26, 2021
Earning Announcements
Peloton shares fall after cycle maker posts disappointing earnings and outlook, cuts Bike price More Athleta’s Q2 Comps Gain 13 Percent Year-Over-Year More
August 26, 2021
FloSports secures London Marathon streaming rights in North America, Australia
United States-based subscription streaming platform FloSports has secured the media rights to the Virgin Money London Marathon in North America and Australia, starting this year. The iconic international race – which is scheduled to be held on Sunday, October 3 – will be exclusively streamed on the FloTrack vertical in the United...
August 26, 2021
Chris Froome invests in Factor Bikes
Chris Froome has joined a consortium injecting capital into Factor Bikes and its parts and accessories subsidiary Black Inc, with plans for the four-time Tour de France winner to use his racing and product experience to help with product development and marketing. Cycling News
August 26, 2021
National Forest Foundation to Host Live Leadership Discussion in New York City
Missoula, MT (August 26, 2021) -- The National Forest Foundation (NFF), a congressionally-chartered nonprofit, will be hosting Our Forests, Our Future, a live panel discussion with corporate environmental, social and governance (ESG) leaders Thursday, Sept. 9 at 6 p.m. at The Union League Club in New York. Our Forests, Our...
August 26, 2021
Athleta parent company Gap acquires Berkeley startup that allows customers to try on fits virtually
Ahead of its second quarter earnings call Thursday, Gap Inc. announced it has acquired e-commerce startup Drapr, a recent Y Combinator alum that has built technology that lets customers try on clothing virtually to ensure a better fit from home. SF Business Times