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.
June 8, 2022
U.S. Ports Remain Near Record Volume as Retailers Continue to Grapple With Inventory Challenges
U.S. ports are expected to remain “near record volume,” according to the monthly Global Port Tracker report released today by the National Retail Federation (NRF) and consulting firm Hackett Associates. The NRF said on Wednesday that the increase in volume is attributed to retailers working to meet “still-strong consumer demand”...
June 8, 2022
Nike is shutting down its Run Club app in China
Nike is deactivating its Run Club app in China, becoming the latest Western company to reconfigure its business in the world's second largest economy. In a statement to CNN Business, a Nike (NKE) spokesperson said that it would roll out a "localized" platform for Chinese runners in future, and continue...
June 8, 2022
Porsche buys out eBike OEM Fazua
Porsche has announced that it has exercised the option to fully acquire the Fazua business, having earlier taken a 20% stake with the option to fully acquire the eBike systems maker. Cycling Industry
June 7, 2022
Kaitlin Armstrong, wanted in Moriah Wilson murder, last seen in New Jersey
Police upgrade the investigation to 'major case status' and are offering up to $5,000 as reward. Officials from the U.S. Marshals Lone Star Fugitive Task Force said Armstrong was dropped off at the Newark Liberty International Airport in New Jersey on May 18, a day after Austin police obtained a...
June 7, 2022
Let’s Do This backed by Usain Bolt and Serena Williams gets $60M to bring endurance sports events to everyone
Let’s Do This, the online marketplace that makes it easy for people to find, book and prepare for endurance sports events such as running, triathlon, cycling and obstacle experiences around the world has just announced raising $60M in its concluded Series B funding round. The platform is quickly gaining recognition,...
June 6, 2022
Peloton Appoints CFO
Peloton Interactive, Inc. announced it had appointed Liz Coddington as chief financial officer, effective June 13, 2022. Coddington brings more than 20 years of experience in financial planning, analysis and operational finance. She succeeds Jill Woodworth, who stepped down as the company’s CFO. SGB Media
June 6, 2022
US cycling great Greg LeMond reveals cancer diagnosis
US cycling great Greg LeMond, a three-time Tour de France winner, has revealed he is receiving treatment for leukemia. Lemond confirmed that he would not be travelling to the Tour de France this year where he has worked with several media outlets since his retirement in 1994. France24
June 3, 2022
Lululemon’s Footwear Launch ‘Far Exceeded’ Expectations and Outweighed Supply
Lululemon just reported better-than expected results for the first quarter, in part driven by the brand’s successful launch into new categories like footwear, golf and tennis. The Vancouver, British Columbia-based athleisure brand reported that first quarter net revenues increased 32% to $1.6 billion versus an expected $1.53 billion. In North America,...
June 1, 2022
24 Hour Fitness Appoints President And CEO
24 Hour Fitness announced it appointed Karl Sanft as president and CEO. For the past three years, Sanft has worked at the company as chief operating officer overseeing its nationwide network of clubs. SGBMedia
May 31, 2022
Peloton Has to Get Off the Bike
Peloton’s new CEO Barry McCarthy, who’s trying to turn a great big bulky barge around with pep talks and a puny paddle, is in a whole lot of hurt right now. He’s short on cash and trying to borrow a bundle from big banks with their own problems and he’s...