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.
November 29, 2022
Wattbike secures £3.25m for global growth
Wattbike has partnered with Praetura Commercial Finance to help fund its ambitious global expansion plans. The £3.25 million asset-based lending facility will help the team invest in its Hub App, which works in tandem with its indoor exercise bikes, as well as target key global territories in the North America...
November 29, 2022
Trends in the running industry: What comes after the Corona boom?
Many have discovered running for themselves in the Corona pandemic. But mega sales for running brands are offset by declining numbers of participants in competitions. Will the runner's high last or will running run out of steam? Urs Weber gave an industry insight at the Runner's World running symposium at...
November 28, 2022
Black Friday Online Sales Hit Record $9.12 Billion
U.S. shoppers spent a record $9.12 billion online this Black Friday, according to Adobe Analytics, which tracks sales on retailers’ websites. That’s a 2.3 percent increase compared to $8.92 billion in 2021 and also up from $9.03 billion the in 2020. SGB Media
November 23, 2022
Meta’s Plans for VR Fitness Could Hit Snag
A government agency is looking to block Meta’s acquisition of a virtual fitness company. In October 2021, the tech giant agreed to acquire virtual realty company Within, the developer of Supernatural — a VR fitness app made exclusively for Meta’s Oculus headsets. But the Federal Trade Commission believes the deal will decrease competition in the VR fitness...
November 22, 2022
ASICS expands race registration offering with njuko acquisition
ASICS has confirmed the acquisition of race registration platform njuko, adding to the Race Roster registration business that it acquired in 2019. With the acquisition of njuko, ASICS notes that it now offers race registration services worldwide, with capabilities in Japan, North America, Australia, New Zealand, and now Europe. Endurance.biz
November 22, 2022
Dick’s Sporting Goods’ Sales Surge to Record Levels
Dick’s Sporting Goods surged to a record third quarter with $2.96 billion in net sales, outpacing analysts’ estimates of $2.7 billion. Despite only a 7.7% year-over-year increase in sales, the largest U.S.-based sporting goods retailer posted a profit of $228 million — down from $317 million in Q3 FY 2021...
November 21, 2022
Nike Opens First Nike Rise Location In North America
Nike opened Nike Aventura in Miami, FL. It is the first Nike Rise store in the U.S., signaling the next stage of its retail expansion in North America. The Nike Rise concept features a Sport Pulse a digital storytelling platform; screens displaying local sports, city and athlete data; The Sport...
November 21, 2022
Founder and CEO of Rad Power Bikes steps down
Mike Radenbaugh, the founder of North America's largest e-bike company, Rad Power Bikes (opens in new tab), will step down from his role as CEO, BRAIN reports. After 15 years at the helm, Radenbaugh will step down into the role of chairman of the board while he shifts his focus to...
November 17, 2022
Outside Inc makes 12% workforce cut on advertising slowdown
Outside Inc – the parent publisher to VeloNews, CyclingTips, PinkBike, B2B Bicycle Retailer and Industry News, plus the Trailforks platform – has announced a number of staff layoffs this week. Among those laid off are senior journalists across the portfolio Caley Fretz, Dave Rome, Matt de Neef and Daniel Benson,...
November 16, 2022
Rad Power Bikes CEO Mike Radenbaugh replaced by former Sony leader Phil Molyneux
Rad Power Bikes CEO Mike Radenbaugh is stepping down from his position at the Seattle-based e-bike company. Rad confirmed to GeekWire that Radenbaugh is being replaced by Phil Molyneux, who was hired as president and COO earlier this year. Molyneux previously was president at Sony Electronics and Dyson America. He was most...