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 8, 2022
Dick’s SG’s Again Tops Expectations In Q4
Dick’s Sporting Goods reported earnings on an adjusted basis grew 50 percent in the fourth quarter ended January 29 on a 5.9 percent same-store sales gain. Both earnings and sales topped Wall Street’s guidance, with the period marking Dick’s largest sales quarter. Earnings are expected to decline in the current...
March 7, 2022
Fitness Chain Virgin Active Expands Amid $118M Capital Raise
London-based fitness chain Virgin Active is expanding from a gym company to a wholesale “combined fitness and nutrition” operation. To do so, the company has made two major moves: a capital raise and an acquisition. The capital raise totaling $118 million included retail billionaire Christo Wiese — who contributed $65.6...
March 7, 2022
Accell Group’s Revenues Climb 6.2 Percent In 2021
Accell Group reported EBIT grew 47 percent in 2021 on a 6.2 percent sales gain. Net sales of €1,377 million, up 6.2 percent despite ongoing component shortages. Growth was driven by higher sales of parts & accessories, mainly volume-driven, and higher bicycle sales due to improved pricing and mix offsetting...
March 3, 2022
iFIT Raises $355 Million, Settles Lawsuit, Lays Off Staff
iFIT Health & Fitness, Logan, Utah, raised $355 million in capital, settled a lawsuit with an investor, installed new leadership and laid off an undisclosed number of staff members, the company announced. Club Industry
March 3, 2022
Peloton ex-CEO John Foley sells $50 million in stock to Michael Dell’s investment firm
Peloton co-founder and ex-CEO John Foley has sold about $50 million in stock to an investment firm backed by Michael Dell, MSD Partners, according to a securities filing. The sale involved about 1.92 million shares, the Wednesday filing said. Foley still owns enough after the sale to maintain effective voting...
March 2, 2022
Alexandre Geniez gets four-month suspended prison sentence for domestic violence
Alexandre Geniez (Team TotalEnergies) was given a four-month suspended prison sentence on Wednesday when he was found guilty of domestic violence against his wife at the time Lucie Garrigues. Garrigues was with Geniez from 2013 to 2020, and she is the mother of their two children. Velo 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...