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 7, 2020
Houston Marathon Uses haku’s Virtual Suite of Products to Host a Novel Virtual Event
When the COVID-19 crisis struck, the Houston Marathon Committee decided that they wanted to create a virtual experience to bring their community together in a unique way and turned to haku’s robust platform of virtual products to help. With virtual event popularity rising as social distancing measures continued to be...
August 6, 2020
Adidas Posts $360 Million Loss But Sees ‘Light at the End of the Tunnel’
For the three months ended June 30, the sportswear giant incurred a net loss of 306 million euros, or $362 million at current exchange, compared with the prior year’s income of 462 million euros. Revenues dropped 35% to 3.58 billion euros, or $4.24 billion. During the quarter, sales through the company’s own...
August 6, 2020
Mellow Johnny’s ends sales of police bikes
Mellow Johnny’s Bike Shop Austin will no longer will sell bicycles to the Austin Police Department because of concerns over officers using them to control Black Lives Matter protesters. The department purchased between 50 and 100 bikes per year. Read more on Bicycle Retailer & Industry News.
August 6, 2020
Super League Triathlon signs broadcaster deals in 135 territories for its hybrid SLT Arena Games format
The debut event of Super League Triathlon’s SLT Arena Games has secured significant global broadcast contracts. The year’s first major professional triathlon race is a groundbreaking mix of in real life and virtual racing with the sport’s biggest stars taking part in Rotterdam on August 23. The interest from broadcasters...
August 6, 2020
Dhani Jones Joins Pocket Outdoor Media Board of Directors
Boulder, Colorado, USA — August 6, 2020 — Pocket Outdoor Media, the leading endurance sports media platform, today announced that Dhani Jones, founder of BowTie Cause and Chairman of Qey Capital, has been elected to its board of directors. In this role Jones will offer strategic guidance and advise the...
August 6, 2020
Panaracer launches new B2C website and welcomes everyone with 20% — for a limited time only
HAYWARD, CA (August 6, 2020) — Panaracer is pleased to announce the launch of its new, more comprehensive website for the North American market. First launched in 2017, the Panaracer USA website has been a go-to resource for cyclists of all disciplines to learn more about the Panaracer brand and...
August 5, 2020
Fitbit Reports Second Quarter Results for the Three Months Ended July 4, 2020
Fitbit, Inc. reported revenue of $261 million, GAAP net loss per share of $(0.39), non-GAAP net loss per share of $(0.12), GAAP net loss of $(104) million, non-GAAP net loss of $(32) million, cash flow from operations of $33 million, and non-GAAP free cash flow of $28 million for its...
August 5, 2020
Merrell and Sperry Parent Handily Tops Forecasts Despite Widespread Store Closures
Amid the coronavirus pandemic, business at Wolverine World Wide Inc. appears to be bouncing back. Reported second-quarter financial results beat analysts’ expectations: For the three months ended June 27, it logged adjusted diluted earnings per share of $0.08, compared with the prior year’s 52 cents. Revenues dropped 38.6% to $349.1...
August 5, 2020
Fitbit Sees 17 Percent Q2 Revenue Decline
Fitbit Inc., which has agreed to a merger with Google, reported sales fell 16.7% in the second quarter, to $261.3 million from $313.6 million a year ago. The net loss came to $104.1 million, or 39 cents a share, against a net loss of $68.5 million, or 27 cents, a...
August 5, 2020
New timing equipment helped a major mountain bike event adapt to Coronavirus restrictions
The largest annual mountain bike festival in Austria -- the “Salzkammergut Trophy” -- normally attracts more than 5,000 participants from over 40 nations. Due to the COVID-19 Pandemic, the 2020 event was facing possible cancellations, race refunds, and lost sponsorships. Instead, the organizer redesigned the event and created a new...