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.
December 6, 2023
Nike and Lululemon Post Epic Retail Traffic Surges on Black Friday
Lululemon will report fiscal third-quarter results after the market closes on December 7 and Nike will report fiscal second-quarter results after the market closes on December 21. Today, LULU shares are up 27x from its adjusted IPO price on July 1, 2007, while NKE shares are up 7.9x over the...
December 5, 2023
BowFlex Risks NYSE Delisting Over Low Market Cap
BowFlex, the Washington-based fitness equipment maker formerly known as Nautilus, has received notice from the New York Stock Exchange (NYSE) warning the company that it isn’t in compliance with continued listing standards, which requires it to maintain an average global market capitalization of at least $50 million over a 30-day...
December 4, 2023
Xponential Fitness Acquires Lindora Weight Loss Clinics
Focused on weight management and metabolic health, Lindora clinics offer GLP-1s like Ozempic, IV drips, hormone replacement therapy, and cold laser therapy, among other treatments. Expanding its empire beyond exercise, XPOF will acquire Lindora’s intellectual property and take over 31 existing clinics, with plans to franchise the brand globally. Fitt...
December 4, 2023
Brooks CEO Jim Weber and President Dan Sheridan on Fueling Growth in China and Europe, Tapping into the Retro Running Boom + More
Late last week, CEO Jim Weber and president Dan Sheridan spoke with FN on the final day of The Running Event (TRE), the annual running industry trade show held in Austin, Texas. During the event, Brooks revealed several products it expects to impress all types of running consumers throughout 2024,...
December 1, 2023
Runna Raises $6.3M for Running Coach App
Runna, a personalized running coach app that debuted in 2021, has closed another venture capital round, raising £5 million ($6.3 million), bringing Runna’s total raised funds to over £8 million ($10 million). JamJar led the latest funding, which included participation from Eka Ventures, Venrex and Creator Ventures. Since its launch,...
November 28, 2023
PEARL iZUMi and Nathan owner, United Sports Brands, acquired by Norwest Equity Partners
Norwest Equity Partners (NEP), a middle market investment platform founded in 1961, has acquired United Sports Brands (USB), which has a diverse portfolio of sporting goods and active lifestyle brands. The transaction closed on November 20, 2023, and financial terms were not disclosed. United Sports Brands’ (USB’s) six brands are: PEARL iZUMI,...
November 28, 2023
Tonal Sues Smart Home Gym Rival Speediance
Tonal, the smart home gym company, has filed a lawsuit against competitor Speediance, alleging the rival brand infringes on its patents and is engaging in false and misleading advertising. The China-based Speediance is also alleged to tout itself as the “Tonal killer” and alter and/or delete reviews on its website...
November 28, 2023
PEARL iZUMi and Nathan owner, United Sports Brands, acquired by Norwest Equity Partners
Norwest Equity Partners (NEP), a middle market investment platform founded in 1961, has acquired United Sports Brands (USB), which has a diverse portfolio of sporting goods and active lifestyle brands. The transaction closed on November 20, 2023, and financial terms were not disclosed. USB products are sold by leading retailers...
November 27, 2023
Performance Footwear From Hoka and On Helped Drive Shoe Sales During Thanksgiving Week, According to New Data
The U.S. footwear market had its best week of the season the week of Thanksgiving, with dollar sales down just 1 percent versus last year. Footwear’s improved results over the holiday week were driven by performance shoes. More specifically, performance shoes saw dollar sales increased by 10 percent in the...
November 21, 2023
Dick’s Sporting Goods reports record Q3 net sales of $3.04 billion
Dick's Sporting Goods' third-quarter net sales increased 2.8% year-over-year to a record $3.04 billion. Net income for the quarter was $201 million, down 11.8% from $228 million year-over-year. Earnings per share decreased 16.3%, from $2.94 to $2.46. BRAIN