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 24, 2021
Nike and Skechers Settle Three Patent Suits
Nike Inc. and Skechers USA Inc. have reached a deal to end three lawsuits in the Central District of California in their long-running battle over intellectual property. According to filings on Friday, the two companies attended a mediation before Judge James Holderman on Nov. 16 where the parties agreed to...
November 23, 2021
Dick’s Sporting Goods’ net sales rise 14% in Q3
Dick's Sporting Goods reported net sales increased 13.9% in the third quarter year-over-year and raised its full-year guidance. Sales for the period ending Oct. 30 were $2.75 billion, compared to $2.41 billion at the same time last year. Consolidated same store sales increased 12.2% in the third quarter. E-commerce sales...
November 19, 2021
Busted: Police Capture Massive $1.5M Bike Theft Ring
On Wednesday, a grand jury indicted eight individuals for causing $1.5 million in damage to bikes and vehicles during a crime spree in Colorado’s Front Range. They face a total of 227 counts, ranging from burglary to first-degree theft.
November 19, 2021
House approves Build Back Better Act — including e-bike tax credit — which goes to Senate
The House of Representatives on Friday morning approved the Build Back Better Act that provides billions of dollars in funding for an e-bike tax credit, bike commuter benefit, and climate and equity-enhancing infrastructure as part of the $1.75 trillion social spending bill. Bicycle Retailer
November 17, 2021
Peloton Sues Rivals Over Alleged Patent Infringement
Peloton has filed lawsuits against rivals Echelon and iFit over alleged patent infringement related to the company’s on-demand fitness classes. Known for its at-home bikes and treadmills, Peloton is seeking compensation and a court order that would prevent Echelon and iFit from selling their alleged patent-violating products until the patents...
November 16, 2021
Peloton Soars After Stock Offering Attracts Major Investors
Peloton Interactive Inc. jumped as much as 15% after a $1 billion stock offering drew the interest of major investors, a sign Wall Street is ready to look past a grim forecast earlier this month. The shares rose as high as $54.45, marking the biggest intraday gain since March. The...
November 16, 2021
Inside The Call: Beachbody’s Q3 Misses Plan On Weakening At-Home Fitness Demand
The Beachbody Company, which recently went public in an IPO, reported sales dropped 17 percent in the third quarter in part because new subscribers to its fitness content weakened amid a softening in at-home fitness demand. Looking ahead, Beachbody lowered its expectations for sales for 2021 to a range between...
November 15, 2021
Beachbody Q3 Revenues Decline 17 Percent
The Beachbody Company, Inc.'s sales declined 17% due to a drop in new health and wellness subscriptions. Total revenue was $208.1 million, a 17% decrease compared to 2020 and a 6% increase compared to 2019. Net loss was $39.9 million, compared to net income of $13.8 million in 2020 and...
November 15, 2021
New Balances’ CEO Eyes Strong Bounce Back In 2021
At SFIA’s Trends & Insights conference, Joe Preston, New Balance’s CEO and president, said his company’s sales are on a path to climb “about 30 percent this year” and move past 2019 levels as it strongly recovers from the pandemic. The brand also continues to pack momentum in the future....
November 12, 2021
Saucony Appoints Sr. VP
Saucony, a division of Wolverine Worldwide Inc., and global performance running and lifestyle brand, announced the appointment of industry veteran Brian Moore to senior vice president of global product. Moore began his athletic footwear career at Saucony 25 years ago where he served as vice president of product marketing and...