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.
May 6, 2020
Peloton Q3 earnings show huge revenue and membership spikes
Peloton bested Wall Street's high expectations, delivering a huge quarterly earnings report Wednesday that showed revenues climbing 66%. The company posted total revenues of $524.6 million for the quarter, besting estimates of $488.5 million. Total members grew from 2.0 million in Q2 to 2.6 million in Q3, a 30% quarter-over-quarter increase....
May 6, 2020
Fitbit swings to profit in Q1 but misses estimates
Revenue dropped by 31% due to weakness in pricing and devices sold. The company sold 2.2 million devices, down 26% year-over-year, due to the introduction of one new product in the latest quarter compared to three new products last year. The average selling price decreased by 11% year-over-year to $81 per...
May 6, 2020
Running on empty: Coronavirus has changed the course for races big and small
The race organizations staging running events are having to grapple with postponements and cancellations to a point where they may not be able to ever come back at full strength. Check out this interesting article and stats on ESPN.
May 6, 2020
BibBoards Inc. Inducts Ed Zuckerberg to advisory board
San Ramon, CA, USA – BibBoards Inc. is an innovative company that was established in 2017 to manufacture fasteners—BibBoards®—is a smart and environmental-friendly replacement for safety pins. Currently, in the wake of Coronavirus pandemic, after customer feedback, the company decided to share with consumers how to use BibBoards® as “4Ears”to...
May 5, 2020
Hutchinson Tires Releases New Gravel Tire: The Touareg
MONTARGIS, FRANCE, May 5th, 2020 — Hutchinson Tires (manufacturing bicycle tires since 1890) is proud to release The Touareg - the latest addition to their gravel/cyclocross range. Whether you're racing or planning an epic adventure, Hutchinson’s goal was to develop a gravel tire with maximum versatility. Merging the best of...
May 4, 2020
International Triathlon Union forecasting loss of at least $1 million in 2020
The International Triathlon Union (ITU) is expecting a loss of up to $1.4 million in 2020 as a result of the coronavirus crisis, but the organisation will not ask for an advance on its Tokyo 2020 payment from the International Olympic Committee (IOC). Read how much money they typically get...
May 4, 2020
Gold’s Gym files for Chapter 11 bankruptcy protection amid coronavirus closings
Gold's Gym filed for Chapter 11 bankruptcy protection Monday as the coronavirus pandemic wreaks havoc on the company's business. The bankruptcy is intended to help the company shed leases. Gold’s Gym will has nearly 700 locations, including about 63 company-owned and operated. Read more on USA Today.
May 4, 2020
Event cancellations plague Emerald’s Q1 performance
Because of numerous event cancellations due to the COVID-19 pandemic, Emerald Holding Inc.—the operator of Outdoor Retailer, Surf Expo and other trade shows—reported revenue for the first quarter declined 27.4 percent to $99.7 million. Read more on SGBMedia.
May 4, 2020
iFit Interactive Fitness Donates One Million Masks to State of Utah
(Logan, UT) - May 4, 2020 — iFit, the leader in interactive connected fitness technology, announces the donation of one million medical-grade surgical masks to the State of Utah. “We’re proud to have iFit Interactive Fitness headquartered in Utah, and I sincerely appreciate iFit’s ability and desire to be part...
May 4, 2020
Documenting the Anthropocene
This Fall/Winter ’20, icebreaker has created a collection in partnership with artist Justin Brice Guariglia. The New Zealand-based apparel brand, a leader in sustainable clothing, is celebrating its 25th anniversary in 2020. The brand believes that nature provides the answers, and for 25 years has developed clothing based on natural fibers...