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 8, 2023
Under Armour Limits Fiscal Q1 Downside with Strong International Growth
Under Armour, Inc.’s total net revenue was down 2.4 percent (-1.3 percent currency-neutral) year-over-year to $1.32 billion in the fiscal first quarter ended June 30. Wholesale revenues declined 6.3 percent to $742.0 million in the quarter, while direct-to-consumer sales increased 4.5 percent to $544.2 million in the period. SGB Media
August 8, 2023
Asics Posts Another Record Quarter Thanks to Global Return of In-Person Sporting Events
Asics hit another milestone in the second quarter of 2023, reporting its highest-ever quarterly sales as business increased year-on-year in all regions and categories in the period. According to the Japan-based athletic brand, net sales in the second quarter increased 28.9 percent to 290 billion yen ($2.03 billion based on...
August 2, 2023
Independent mountain bike magazine Cranked to cease publication
Independent mountain bike magazine Cranked is to cease publication next month, with its 34th edition the last to roll off the printers. Founded in 2015 by photographer and writer Rogers, Cranked operated with the tagline “a magazine for mountain bikers”, and each quarter delivered high quality writing and photography from...
August 2, 2023
UCI announces creation of second division of women’s professional cycling teams
The International Cycling Union (UCI) has announced plans to create a second division of women’s professional teams, a move that would bring the sport’s team structure in line with their male counterparts. The UCI women’s pro team division is set to come into the sport in 2025 and is due...
August 1, 2023
Under Armour Launches First-Ever Loyalty Program As It Looks to Improve North American Business
Under Armour, Inc. today announced the launch of its first-ever loyalty program, “UA Rewards,” for U.S.-based consumers 16 years and older. Eligible customers can enroll for the program for free on Under Armour’s website or digital apps and platforms. Once enrolled, they can earn points through purchases, product reviews, and...
August 1, 2023
Running Retailers Are Sprinting Into the Pickleball Category
When Jeff Harris picked up pickleball during the pandemic, he didn’t have a business agenda. His family retail store, Run With It in Fort Walton Beach, Fla., sold running and walking gear. At the time, pickleball was just a fun way for the then 57-year-old to stay active and social...
July 28, 2023
Hot-Selling Hoka Looks to Meet Excess Demand with DTC
High-growth running brand Hoka continued its strong performance in the first quarter for parent company Deckers Brands – so much so that the company boosted its full-year revenue outlook based on Hoka’s results despite every other brand it its portfolio recording first quarter sales declines. For the quarter ended June...
July 28, 2023
Clif Bar Continues to Improve Profitability Under New Owner
Mondelez International said its recently-acquired Clif Bar business continued to improve profitability in the second quarter with the help of higher prices amid “robust” sales growth and as Clif Bar recently overhauled its management team, including the exit of CEO Sally Grimes. At the close of February, Alexandre Zigliara was...
July 25, 2023
Shimano’s bike-related sales down 18% in first half
Shimano says interest in bicycles globally continues as a long-term trend, but that macro-economic conditions and industry inventory levels contributed to a 17.7% decline in sales in its bike business in the first quarter this year, compared to the same period last year. Net sales in Shimano's bike-related business were...
July 25, 2023
Life Time’s Q2 Profits Surge
Life Time Group Holdings, Inc. raised its earnings guidance for the year after reporting a profit against a loss in the second quarter ended June 30 as adjusted operating earnings grew 115 percent. Revenue gained 21.8 percent. SGB Media