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 5, 2023
Adidas Beats Revenue Expectations Despite Costly Yeezy Struggles
Adidas’ Yeezy crisis has hit the company hard — but its first-quarter financials were not as bad as expected. The sportswear giant reported $5.82 billion in Q1 2023 revenue — a 1% dip from $5.85 billion a year prior. Those numbers actually outperformed projections from financial analysts, who expected a...
May 4, 2023
Peloton Touts Subscriber Growth Amid Heavy Losses
Peloton CEO Barry McCarthy described its fiscal quarter as the best he has seen with the company, but investors were left cold. The connected fitness giant booked $748.9 million in the fiscal third quarter ending March 31, missing analyst expectations and causing the company’s stock to tumble 13.5%. Peloton lost an...
May 3, 2023
Shimano reports 16.8% fall in bike-related sales for Q1 of 2023
Shimano has released its financial results from Q1 of 2023, showing a 16.8% fall in sales in its bike division. The company also reported it was down 31.8% in operating income in the same sector. In its bike segment, net sales were 98,298 million yen – around £580 million –...
May 3, 2023
Brooks Running Continues Growth in Q1 With Record Sales in EMEA Region
Brooks Running is continuing its growth in the first quarter, after a record 2022. In the first quarter of 2023, the Seattle-based performance running brand reported 20 percent year-over-year global revenue growth, including a record 32 percent increase in the Europe, Middle East, and Africa (EMEA) region. FN
May 1, 2023
Rad Power Bikes has a 4th round of layoffs
Rad Power Bikes has been one of the fastest-growing e-bike brands in the U.S. In October 2021, after it announced the latest $154 million financing round that brought the total of investments to $329 million since its inception, the company claimed it was the world's best-funded e-bike brand in the...
April 28, 2023
Declining bike-product demand contributes to Thule’s Q1 net sales decrease
Thule Group's first-quarter net sales were down 26.6% year-over-year, largely due to declining bike-product demand from retailers lowering inventory levels. Net sales for the quarter ending in March were SEK 2,226 million ($215.2 million), compared with SEK 3,034 million at the same time last year. Thule's inventory decreased in the...
April 25, 2023
Life Time Group Holdings Reports Impressive Q1 Earnings
Life Time Group Holdings (NYSE:LTH) has reported its Q1 earnings on April 25, 2023, and the results are impressive. The company has surpassed the analyst consensus estimate for both earnings per share and sales. Life Time Group Holdings reported earnings of $0.14 per share, which is 133.33 percent higher than...
April 24, 2023
Brooks Sues Skechers Over ‘Beast’ Trademark
Brooks Sports, Inc. filed a lawsuit against Skechers U.S.A., Inc., alleging the company infringed on its ‘BEAST’ trademark used on Brooks running shoes since 1992. Brooks said Skechers’ use of the SPEED BEAST mark “on similar products, marketed and sold through similar channels, is highly likely to cause consumer confusion...
April 21, 2023
Under Armour Founder Kevin Plank Reveals How the Brand Is Finding Its Identity in Footwear
There’s plenty of newness at Under Armour nowadays. For instance, the Baltimore, Md.-based company announced last December that it hired Marriott International executive Stephanie Linnartz as its next president and CEO. Also, construction is underway on the athletic giant’s new campus in the city. However, one of the more compelling...
April 19, 2023
The Ethics of Running Contracts
There are certain mysteries of the world that are fun and exciting. Consider black holes, aliens, and the Loch Ness monster. But I am not sure why running contracts are among them. Surely, it is not to our benefit that we do not know our worth. Certainly, it would help...