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.
October 31, 2024
Peloton Earnings Beat Expectations As It Still Loses Subscribers
Peloton reported it has 6.2 million members, a 3% drop from the previous quarter. The connected fitness company reported revenue for fiscal first-quarter 2025 of $586 million Thursday, lower than the previous quarter ($643.6 million) and the year-ago period ($595.5 million). Front Office Sports
October 30, 2024
REI now a Canyon authorized service partner
Canyon Bicycles is expanding its service partner network by adding 28 REI Co-op locations. The consumer-direct brand's network already includes 66 independent bike shops in the U.S. and scores of independent service partners in Europe. All service, including frame warranty and crash replacements, will be fulfilled at Southern California, Denver, and...
October 30, 2024
Garmin Ltd. Ups Guidance on Strong Double-Digit Q3 Growth in Fitness, Outdoor and Marine
Garmin Ltd. posted consolidated revenue of $1.59 billion for the third quarter ended September 28, a 24 percent increase compared to the prior-year third quarter. Revenue from the Fitness segment increased 31 percent to $463.9 million in the third quarter with growth across all categories led by strong demand for...
October 30, 2024
Online Sports Coaching Platforms Market to Grow by $1.24B
Athlete involvement and AI are set to propel the global online sports coaching platform market size to grow by $1.24 billion from 2024 to 2028, according to a new report from Technavio. Athleteh News
October 29, 2024
Brooks Reaches $1B Sales Milestone in First 9 Months of Year
Following a record Q2, Brooks Running continued its winning streak in its most recent quarter. In the third quarter of 2024, the Seattle-based performance running brand reported that it surpassed $1 billion in global revenue year to date through September, marking the first time the company has hit the major milestone prior...
October 29, 2024
Shimano sales down 12% in 2024, but cycling components giant points to “signs of progress”
Shimano's sales and income from bicycle components are significantly down on 2023, according to its latest financial results. The figures are for the first nine months of 2024, with sales in its bicycle components division down 12 per cent to 253,861 million yen (£1.27 billion), while the segment's income has...
October 29, 2024
Rapha Posted Losses—Are Road and Gravel Cycling Dying?
Digging deeper into Rapha's financials paints a more nuanced picture of the state of the apparel brand — but what does that say about the state of cycling? Velo
October 25, 2024
Hoka Sends Sales Surging at Deckers Brands in Second Quarter
Deckers Brands raised its 2025 guidance after net sales skyrocketed in the second quarter ending Sept. 30, helped by impressive results from Hoka and growth in both wholesale and direct-to-consumer sales. Net sales at the parent company of Hoka, Ugg and Teva grew by 20% to $1.311 billion compared to...
October 24, 2024
Rapha sales fell 7% in 2023
Rapha Racing LTD’s total revenues totaled 110 million pounds ($139.7 million at January’s exchange rate) in the 12 months that ended Jan. 28, 2024, down 7% percent from the preceding 12-month period and down from 138 million pounds the year before that. The company’s operating loss was 21 million pounds, up...
October 24, 2024
Life Time Posts Double-Digit Revenue Gain in Q3 as Dues and In-Center Sales Grow
Life Time Group Holdings, Inc. reported a third-quarter revenue increase of 18.5 percent to $693.2 million, which was driven by continued growth in membership dues and in-center revenue. This revenue resulted from increased average member dues, membership growth in new and ramped-up centers, and higher member use of its in-center...