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 25, 2023
Lululemon To Expand Vancouver HQ, Add 2,600 New Jobs Over Five Years
Lululemon announced today that it will create over 2,600 new jobs in Vancouver over the next five years. The expansion of lululemon’s global headquarters in its hometown promises to significantly boost British Columbia’s prosperity. With its British Columbia origins, Lululemon has employed and continues to employ thousands of Canadians, while...
May 25, 2023
Full Circle Events purchases rights to produce Carmel Marathon
The name Full Circle Events seemed appropriate for Jay Druba’s new race management company. Druba was an intern in 2011 for the Carmel Marathon. Now Druba and his wife, Kati, have purchased the rights to Carmel Marathon from the Carmel Road Racing Group. This will be the only event Full...
May 23, 2023
Dick’s SG Posts 5.3 Percent Comp Sales Growth In Q1; EPS Up 38 Percent
Dick’s Sporting Goods reported net sales for the fiscal first quarter* rose 5.3 percent to $2.84 billion from $2.70 billion in the prior-year Q1 period. Comparable store sales grew 3.4 percent, partially reversing the 8.4 percent comp store sales decline in the year-ago period. Net income increased 17 percent to...
May 22, 2023
G.O.A.T. Fuel closes funding round, eyes nationwide distribution
The Jerry Rice-backed energy drink company G.O.A.T. Fuel has closed a $5 million seed funding round co-led by venture firms Stage 1 Fund and Morrison Seger Venture Capital Partners. The company has now raised a total of $12 million since launching in 2020, and intends to use its newly acquired...
May 19, 2023
Giant Group reports 9.6% drop in sales for Q1
The Giant Group has reported a 9.6% drop in sales for Q1, citing inventory levels in the European and North American markets as well as the higher year-on-year comparison base as the reason. The Taiwanese company’s sales in Europe and North America were impacted by higher inventories of entry-level and...
May 18, 2023
Lululemon Makes Minority Investment in Samsara Eco
Announced Thursday, the athleticwear brand made a minority investment in Australian start-up Samsara Eco, a company that has a patented enzymatic process which breaks down high-performance nylon and polyester polymer blends for use as new fibers. Details were not disclosed but Lululemon is the first equity apparel partner in Samsara...
May 17, 2023
Wahoo Fitness Founder Buys Company Back from Banks
Wahoo’s business was doing well pre-pandemic, and then as the pandemic set in, their business exploded with sales. Like most indoor training companies, they couldn’t make stuff fast enough. Though, prices didn’t rise – they stayed as-is. Enter Rhone Equity in June 2021, with an agreement to take a majority...
May 16, 2023
Brompton secures £19 million investment and will use money to ‘be more ambitious’
Brompton, the iconic British folding bike company, has secured £19 million in investment from BGF. The bike manufacturer's accounts, published on Companies House earlier this year, show that turnover increased 40% to £106.9m ($128.7m) in the year up to 31 March 2022, up from £76.1m ($91.6m) Yahoo Sports
May 16, 2023
On’s First Quarter Profits Surge With 78 Percent Revenue Gain
On Holding AG’s profits tripled in the first quarter on strong margin improvement and 78 percent sales growth. The Swiss running brand’s results easily topped analyst targets. Strength was seen across regions, channels and product groups. Sales of CHF 420.2 million ($470mm) topped Wall Street’s consensus target of CHF 382.3...
May 15, 2023
New Suit Comes for Nike’s ‘Misleading’ Sustainability Marketing
In a complaint filed Wednesday in a District Court in Missouri, plaintiff Maria Guadalupe Ellis claimed that Nike uses “deceptive and misleading” statements when marketing its sustainability collection. Specifically, the suit claims that Nike “deceives consumers into believing that they are receiving products that are ‘sustainable,’ ‘made with recycled fibers,”...