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.
November 9, 2023
Can Specialty Run Handle More Competition? Is the ‘Super Shoe’ Here to Stay? + More Burning Questions for the Running Market
The running market continues to be the hot spot in athletic footwear, and everyone wants a piece of it. For instance, Nike, which had been prioritizing its direct-to-consumer channels, renewed its partnerships with non-athletic retailers Macy’s and DSW earlier this year. And Hoka — FN’s Brand of the Year and...
November 8, 2023
Adidas Ekes Out Growth in Q3 on Gains in all Regions Except North America
Adidas posted a 1 percent increase in currency-neutral (c-n) revenues in the third quarter of 2023. The company said the top-line development reflected the company’s conservative sell-in approach aimed at reducing high inventory levels, improved sell-through as well as the company’s focus on full-price sales across its own channels. In...
November 2, 2023
Peloton reports wider-than-expected loss, ‘bad news’ on paid subscriptions
Peloton’s sales during its fiscal first quarter were higher than expected but its losses underperformed Wall Street’s expectations. The connected fitness company, known for its pricey Bike and Bike+, is struggling to convert new users into paid subscribers. For its holiday quarter, Peloton is expecting revenue of between $715 million...
November 1, 2023
Vista Outdoor Reports Second Quarter FY24 Financial Results
Vista Outdoor Inc. reported financial results for the second quarter of Fiscal Year 2024 (FY24), which ended on September 24, 2023. Sales decreased $105 million to $677 million, down 13 percent, driven by lower shipments across nearly all categories in the Sporting Products segment. Gross profit declined 21 percent to $209...
November 1, 2023
Garmin Lifts Outlook On Q3 Beat
Garmin, Ltd. raised its guidance for the year as third-quarter results topped expectations. Among segments, fitness sales grew 26 and Outdoor advanced 7 percent while Marine declined 7 percent. Highlights for the third quarter 2023 include: Consolidated revenue of $1.28 billion, a 12 increase compared to the prior year quarter...
November 1, 2023
Brooks Running Eyes Return to Double-Digit Growth In 2024
Brooks Running’s global revenue grew 5 percent in the first nine months of 2023, with North America revenue increasing 7 percent. The Seattle, WA-based running brand, owned by Berkshire Hathaway, reported it remains the leading running footwear brand across U.S. retail and forecasted a return to double-digit growth in 2024....
November 1, 2023
How Brooks Plans to Achieve Double-Digit Growth in 2024 As the Running Market Heats Up
While other running brands such as Hoka and On have been generating big buzz, Brooks continues to show solid gains. As of the third quarter, Brooks’ global revenue grew 5 percent year-to-date, with North America revenues increasing 7 percent. Internationally, Brooks’ revenue increased 22 percent in France and the United...
October 28, 2023
Thule’s Profits Bounce Back in Third Quarter
Thule Group reported a strong recovery in earnings in the third quarter as sales rose 8.0 percent. Sales in the North American region decreased 15 percent on a currency-neutral basis. The Sweden-based maker of outdoor and transportation products reported net sales for the quarter amounted to SEK 2,311 million ($205.8...
October 26, 2023
Hoka Continues to Drive Deckers Brands in Q2, Ugg Returns to Profit
Shares for Deckers Brands were up nearly 10 percent. The footwear company reported net sales in the second quarter of 2024 increased 24.7 percent to $1.09 billion, compared to $875.6 million the same time last year. Deckers also saw a bump in its direct-to-consumer channel, reporting an increase of 38.8 percent to...
October 26, 2023
Skechers Beats Profit Expectations in Q3, Nets Record Sales Over $2B
Skechers reported record quarterly sales of $2.02 billion, which were up 7.8 percent from the prior year and ahead of the company’s previously outlined projection of between $1.95 billion and $2 billion. Net earnings were $145.4 million and diluted earnings per share were up 69.1 percent to $0.93. Skechers had been aiming...