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.
March 13, 2023
Who Owns Ironman? Who Owns Triathlon?
The reality is that answering, who owns triathlon is tricky. To help, we’ve put together the most recent ownership information that’s available at the time of this writing just below. Not a business whiz? We’ve also created a glossary of terms far below to help you translate. Triathlete
March 13, 2023
High-end bikes still in demand says Giant, as it announces 12.5% revenue increase
The demand for high-end bikes remains strong according to manufacturer Giant, which has announced a 12.5% jump in revenue for 2022. However, it also has excess inventory for low to mid-priced components – an area it says has cooled off considerably – while high-end components are still harder to come...
March 9, 2023
Life Time revenues up 38% as fitness centers rebound
Most of Life Time’s business — 97% — comes from its 171 large format fitness centers in the U.S. and Canada. However, Life Time’s remaining revenue of $53 million came from cycling and running events as well as some other miscellaneous sources. Revenues in the "other" category was up 69%...
March 8, 2023
Peloton, iFit hit with US import ban over streaming technology
In a 2021 complaint filed with the ITC, Dish and its Sling TV unit accused Peloton and iFit of infringing four patents for video-streaming technology through imports of products that stream at-home fitness content. These included Peloton bicycles and treadmills and iFit NordicTrack bicycles and ellipticals. Reuters
March 8, 2023
Life Time Group Holdings, Inc. (LTH) Tops Q4 Earnings and Revenue Estimates
This quarterly report represents an earnings surprise of 16.67%. A quarter ago, it was expected that this company would post a loss of $0.09 per share when it actually produced a loss of $0.07, delivering a surprise of 22.22%. Yahoo
March 7, 2023
Zwift Announces New Layoffs Reducing 15% of Workforce
Zwift has internally announced a restructuring that is resulting in a reduction of the workforce by 15%, or approximately 80 people in total. The change is largely coming out of a “fresh look” at things with Zwift’s recently added co-CEO, Kurt Beidler. Kurt came from Amazon back three months ago in...
March 7, 2023
Dick’s Sporting Goods’ Third Straight Record Year
Dick’s Sporting Goods has pulled off a third consecutive record year. The sporting goods giant topped itself yet again with full-year net sales of $12.37 billion, a 0.6% year-over-year increase and a 41.3% increase from 2019. Net income for the year fell to $1 billion from $1.5 billion in 2021....
March 6, 2023
Brooks, Asics, Nike & More Major Running Brands Are Tuning Into #RunTok on TikTok — Here’s Why
With nearly 1 billion views on TikTok, the growing community of #RunTok is fueling the running world all thanks to every day creators — and brands are taking notice. FN
March 3, 2023
Xponential Fitness Revenue Surges 58%
Xponential Fitness, which claims it’s the largest global franchisor of boutique fitness brands, reported a 44% year-over-year increase in fourth-quarter revenue to $71.3 million and a 58% increase in full year revenue to $245 million. The company posted a net loss of $400,000 for the three months that ended Dec....
March 3, 2023
Cycling journalists form Escape Collective following layoffs, exodus from Outside
In its first 24 hours of selling $99-a-year memberships, the Escape Collective has enlisted thousands of subscribers, said Caley Fretz, a Durango-based cycling journalist who co-founded the new venture with editor Wade Wallace, who founded the influential Cycling Tips in 2008 and left his creation last year. The Colorado Sun