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.
June 8, 2023
How Lululemon took on Nike to become a Fortune 500 company and $8 billion athleisure empire
Lululemon’s branding as a hip retailer targeting a wealthy clientele has been vital to its growth, hence why the company is credited with the invention of “athleisure,” at the intersection of good fit and high-quality fabrics. It’s slowly expanded into menswear and, more recently, golfing and hiking clothes. And it’s...
June 7, 2023
New Balance plans 120,000-square-foot manufacturing facility in Londonderry
Footwear maker New Balance wants to build a factory in Londonderry as part of its larger effort to expand manufacturing capacity in the U.S. The 17-acre property is intended to be the sixth U.S. manufacturing facility for New Balance, with the plan including a one-story building that will contain offices...
June 7, 2023
Adidas offers student loan help for US employees
Adidas is offering to help its U.S. employees pay down their student loans. On Tuesday, the global shoe and apparel retailer announced that full-time employees who work at least 30 hours a week qualify for a $100 per month – or $1,200 per year – stipend through the company’s new...
June 6, 2023
Gatorade opens R&D lab in New York, US
PepsiCo-owned drinks brand Gatorade has announced the opening of the Gatorade Sports Science Institute (GSSI) research and development lab in Valhalla, New York. The new laboratory is designed to provide opportunity for innovation and discovery, to support product development across all ‘Gatorade Portfolio’ brands, including Gatorade, Fast Twitch, Propel, Muscle...
June 5, 2023
New Balance Invests $65 Million in Maine Factory Expansion
New Balance is expanding its athletic footwear manufacturing factory in Maine. The brand announced today that it has broken ground on the expansion efforts to its current Skowhegan, Maine factory. The expansion consists of a 120,000-sq.-ft., single-story addition that New Balance said will be completed by the end of 2024....
June 5, 2023
Bike Retailers Ride Inventory Glut As Demand Softens
As American consumers return to spending money on experiences post-pandemic, they’re not spending nearly as much at bike shops as they did during the COVID-19 outbreak. Thus bike retailers that struggled to keep inventory in stock during the peak demand of the lockdowns and restrictions of 2020-2022 now have too much...
June 2, 2023
Lululemon Powers On, Topping Estimates and Raising Its Outlook
The economic realities of the moment — with worried consumers, high inflation and high interest rates — don’t seem to apply to Lululemon Athletica Inc. Shares of the buzzy active company shot up 13.7 percent on Thursday to $373.37 after it continued to grow rapidly, topping first-quarter profit and sales projections and raising its...
June 1, 2023
Quality closes its Colorado mechanic school
Quality Bicycle Products has closed its bicycle mechanics school, U of Q, which was previously known as Barnett Bicycle Institute. The Minneapolis-based distributor said its projections pointed toward a decline in enrollment. The closure caused QBP to lay off three employees while registered students were refunded. The school was located...
May 30, 2023
Nike launches ‘first’ hydrogen-powered inland container ship
Global clothing brand Nike has launched the ‘first’ hydrogen-powered inland container ship in Rotterdam, the Netherlands. Developed by Future Proof Shipping (FPS), the retrofitted 110m x 11.45m containership, dubbed H2 Barge 1, has been chartered by BCTN Network on Inland Terminals for Nike EMEA. Now fitted with hydrogen fuel cells,...
May 26, 2023
Hoka Added $521 Million In New Revenue In Fiscal 2023; DTC Remains Focus
Global Hoka brand revenue for fiscal year 2023 increased 58.5 percent, or $521 million, versus the prior fiscal year to $1.41 billion, the fourth consecutive year Hoka has delivered revenue growth above 50 percent. Let that sink in; $521 million in additional annual revenue—for a running brand. Hoka brand net...