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 26, 2023
FloBikes Got Caught Sneaking Subscriber Data to Facebook. That Means You’re Owed Money.
If you woke up to an email about a class action lawsuit against FloSport, it was about their subscribers being notified that FloSports disclosed its subscribers’ personal information to Facebook via the Facebook Tracking Pixel, without its subscribers’ consent, in violation of the Video Privacy Protection Act (the “VPPA”). This...
October 25, 2023
Life Time Group Holdings Inc (LTH) Reports Strong Revenue Growth in Q3 2023
Life Time Group Holdings Inc (NYSE:LTH) released its Q3 2023 earnings report on October 25, 2023, revealing a significant increase in total revenue and adjusted EBITDA. Despite a decrease in net income, the company's adjusted net income showed a remarkable improvement, turning from a loss in Q3 2022 to a...
October 24, 2023
Shimano’s Sales Tumble 20 Percent In Nine Months On Cycling Weakness
Shimano Inc.’s sales tumbled 19.8 percent in the nine months as sales in its Bicycle Components segment dropped 24.8 percent with the decline tied to high inventories in the IBD channel. The Japanese-based company nonetheless slightly raised its outlook for the year as orders in the back half weren’t as...
October 24, 2023
Running Store Distance Lets Customers Steal — If They Can Outrun Its Security Guard
Running store Distance is allowing customers to steal products from its shelves — with a catch. On Sept. 13, the brand posted a sign outside of its store in Paris, which proclaimed “Rob It To Get It” as part of its latest campaign. Customers were allowed to steal items in-store...
October 19, 2023
Startup Raises $3M To Help Athletes Flex Their Creator Muscles
Grandstand, the athlete empowerment startup, recently raised $2.75 million in a funding round led by Will Ventures, with plans to launch an app that would allow fans to follow and financially support their favorite players. Sportico
October 19, 2023
Meta, Alo Yoga Hit With VR Fitness Lawsuit
Meta has again been accused of gatekeeping the burgeoning virtual reality fitness space, this time drawing the ire of an immersive VR app developer, who slapped the tech titan and athleisure brand Alo Yoga with a lawsuit. The plaintiff, California-based Andre Elijah Immersive Inc. (AEI), is a self-proclaimed new entrant...
October 19, 2023
Wiggle future in doubt as business set to file for self administration
The parent Signa Sports United, whose largest shareholder is Signa International Sports Holding, is facing down the prospect of losing a €150 million financial commitment, on which just €7 million has thus far been drawn to support the network of companies’ trading activities. The ultimate source of the funding withdrawal...
October 17, 2023
Peloton Expands Into Austria
Peloton announced its expansion into Austria, its fifth market outside the U.S. Starting today, the Peloton Bike, Bike+, and select accessories will be available to consumers in Austria through its expanded relationship with Amazon. Sport-Tiedje, the largest specialist retailer of home fitness equipment in Europe, will sell Peloton Bike, Bike+,...
October 4, 2023
UK Luxury Gym Third Space Secures $107M To Fuel Growth
Third Space, a London-based luxury fitness lifestyle brand, has received £88.5 million ($107.4 million) to support the growth of its footprint and its team. The posh fitness brand is known for its opulence, having attracted high-profile clientele such as Prince Harry, David Beckham and Guy Ritchie. Neo bank OakNorth and...
October 4, 2023
On Announces its Three Year Financial Outlook, Confirming its Ongoing Commitment to Combine Strong Growth with Increasing Profitability
Swiss performance sportswear brand On (NYSE: ONON) will today, October 4, 2023, host an Investor Day at On Labs in Zurich, Switzerland. Two years after the Company’s IPO and following the successful execution on the growth strategies presented during the listing process, the Company is providing an update on its...