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.
September 4, 2024
Fired pro cyclist Andrea Piccolo turns to OnlyFans
In June, EF Pro Cycling announced the immediate termination of its contract with Italian rider Andrea Piccolo. This decision came after the 23-year-old was involved in two substance-related incidents, one legal and one not. In a statement on X, the team confirmed that the contract was terminated effective immediately. Piccolo...
September 4, 2024
Dick’s Sporting Goods Raises Outlook Following Strong Q2
Dick’s Sporting Goods raised its 2024 outlook on Wednesday morning after the retailer reported sales and earnings figures that beat expectations. In the second quarter, the sporting goods store’s revenues were $3.47 billion, up 7.8 percent from the same quarter last year and ahead of the $3.44 billion expected by analysts surveyed...
August 30, 2024
Alta Cycling Group downsizes dramatically as Regent waits out industry’s downturn
Alta Cycling Group, the parent of Redline, Diamondback and IZIP, has scaled back significantly as its private equity owners wait out the industry’s current period of discounting and high inventory. Larry Pizzi, the company’s longtime leader, stepped down when his five-year contract ended in late July, he told BRAIN. This...
August 30, 2024
Lululemon cuts guidance, misses sales estimates after botched launch of ‘unflattering’ yoga pants
Lululemon lowered its guidance and posted its first revenue miss in more than two years on Thursday after it botched a highly anticipated product launch. The company now expects full-year net revenue to be between $US10.38 and $US10.48 billion ($15.4b) down from a previous range of between $US10.7 billion and...
August 27, 2024
New York Road Runners agree to deal with ESPN/ABC for year-round broadcast partnership
The New York Road Runners (NYRR) announced an agreement with ESPN and ABC for a first-of-its-kind, year-round broadcast partnership that will televise its benchmark races, such as the New York City Marathon, NYC Half Marathon, 5th Avenue Mile, and the New York Mini 10K nationally as well as locally for...
August 23, 2024
Hayes Performance Systems lays off less than 10% of its workforce
Hayes Performance Systems laid off an unspecified number of employees Thursday, the latest company in the industry to show the effects of a stagnant bike market. An industry source familiar with the situation told BRAIN that less than 10% of the workforce that manufactures brakes, suspension systems, wheels, and components...
August 22, 2024
Peloton’s Q4 Earnings and Strength Push Send Shares Soaring Over 30%
The connected fitness company’s total revenue for Q4 was $643.6 million for the three months ending June 30 ($212.1 million of connected fitness products revenue and $431.4 million of subscription revenue), up from $642.1 million last year and outperforming its $618 – $643 million guidance range. Peloton ended Q4 with...
August 19, 2024
Fitness App Industry Set to Reach $4.3 Billion by 2030
The global fitness app market is poised for significant expansion, with projections indicating growth from $1.5 billion in 2023 to $4.3 billion by 2030, according to the newly released Fitness Apps – Global Strategic Business Report. The report forecasts a compound annual growth rate (CAGR) of 16.4% over the forecast period, driven...
August 19, 2024
How much do Olympic champions get paid?
Newly-crowned Olympic champions from Paris 2024 don’t just win bragging rights–national Olympic committees (NOC) or national governments from around the globe reward the achievements of their star athletes with a cash prize. With the expenses that go into being an elite athlete, these funds can go a long way in...
August 15, 2024
Skeezy New Trend: Strava ‘Surrogates’ Are Making Money by Logging Runs for Other People
An Indonesian teenager has found a lucrative way to do just that by, well, running for other people. Wahyu Wicaksono, 17, has become what’s known in the country as a “Strava jockey,” logging running achievements for others on the app for a fee. “I am active on X and it...