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 2, 2022
Ukrainian cycling coach and father of recent national champion killed in war; former pro Andriy Grivko working to help country’s cyclists
The Russian invasion in Ukraine has claimed the life of one of the country's national cycling coaches, who was also the father of the rider who won the men's National Road Race Championships in 2019. Alexander Kulyk was killed on Tuesday in Kyiv during a mission to help evacuate people...
March 1, 2022
Lizard Skins and BOA parent delivers record results
Compass Diversified, the parent group to Lizard Skins and BOA Technologies, among many other middle market labels, has reported a record year in its FY21 results, with annual sales reaching $1.842 billion. Both relatively new additions to the Compass portfolio, Lizard Skins and BOA are already making their contributions with the...
February 28, 2022
Longtime iFIT CEO steps down from Logan company amid layoffs and leadership shake-up
Logan-based iFIT Health & Fitness has followed deep staff cuts announced Friday with a shake-up of its leadership, including the departure of longtime CEO Scott Watterson. Watterson, an iFIT co-founder who has worked 45 years with the exercise equipment maker, will remain in his role as chairman of the board...
February 25, 2022
Fox Factory reports 57.8% rise in cycling product sales
Fox Factory this week reported sales for the year ended December 31, 2021, were $1,299.1 million, an increase of 45.9% compared to fiscal year 2020. With the release of Fourth Quarter and Fiscal 2021 Financial Results, Fox saw Specialty Sports Group sales (largely made up of bicycle industry trade) increase...
February 24, 2022
Planet Fitness Reports Gen Z Boost in Memberships
In reporting Q4 earnings, Planet Fitness announced it’s made major gains with one age demographic in particular: Generation Z. The generation — which encompasses people born between 1997 and 2012 — is signing up for gym memberships at higher rates than any other age group. The reason? The pandemic. Gen Z’ers...
February 24, 2022
Dan Sheridan, a 24-Year Veteran at Brooks, Has Been Promoted to President
Sheridan, who has held the EVP and COO titles with the running-focused company for the past three years, has been elevated to president and COO. With the new role, Brooks said via statement that Sheridan will partner with Weber to support the continued growth of the brand, and will continue...
February 23, 2022
Two Years After Ahmaud Arbery’s Murder, the Running Industry is Slowly Changing
Almost two years ago, thousands of people around the world vowed to “finish the run” in memory and in honor of Ahmaud Arbery, the 25-year-old Black man from Brunswick, Georgia, who was murdered on February 23, 2020, by three white men who chased him down in a pickup truck and...
February 23, 2022
Wolverine Delivers Revenue Growth of Nearly 25% in Q4 as Merrell, Saucony Hit 2021 Sales Records
Wolverine Worldwide reported strong fourth quarter and fiscal 2021 results as the footwear conglomerate faced supply chain challenges head on. The company – which owns Merrell, Saucony, Sperry, Keds and more – saw revenues of $635.6 million in the fourth quarter of 2021, up 24.7% versus the prior year. As...
February 22, 2022
Brooks Is Now a Billion-Dollar Brand
The running brand broke sales records in 2021 and ended the year with global revenue in excess of $1.11 billion, marking a 31% percent increase from 2020. In North America, revenue was $889.1 million, representing a 33% growth from 2020. The company’s e-commerce channels in North America grew 149% compared to...
February 21, 2022
Harley-Davidson report $41.3 million in e-bike sales is just the start
As part of it’s yearly financial reporting, Harley-Davidson has disclosed that the LiveWire brand, which it launched in 2019 with an electric motorcycle of the same name, made $41.3 million from children’s e-bicycle sales across 2019, 2020, and the first 3 quarters of 2021. Cycling Industry