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 10, 2021
World Triathlon and RaceRanger team-up on anti-drafting tech
World Triathlon has teamed up with RaceRanger, an electronic sensor system designed to improve fairness around the issue of drafting on the bike section of non-drafting triathlons, which make up approximately 85% of triathlon competitions globally. Endurance.Biz
November 10, 2021
Adidas sees $1.2 billion sales hit as supply snags drag on
German sportswear company Adidas warned on Wednesday of a 1 billion euro ($1.2 billion) hit to sales from factory closures in COVID-hit Vietnam and supply chain bottlenecks that it expects to affect business into next year. Shares in the company fell more than 5% as it became the latest multinational to...
November 10, 2021
Black Employees at Peloton Are Voicing Concerns Over Pay Disparity
Insider published an investigation detailing some Black employees' concerns over pay disparity at Peloton. The report, published on Nov. 3, was based on interviews with four Black current and former Peloton employees speaking under the condition of anonymity, as well as Insider's access to inside communications (screenshots of Slack conversations,...
November 8, 2021
Fox Factory’s Cycling Segment Scores Sixth Straight Record Quarter
Fox Factory Holding Corp. said its Specialty Sports Group (SSG), its cycling component division, soared 48.1 percent in the third quarter despite continuing supply chain constraints. Officials said with the current pace of industry demand, it expects it will take eight to 10 months to meet the current customer demand...
November 8, 2021
Planet Fitness Brings In Highest Franchise Revenue Ever
Planet Fitness surpassed third-quarter estimates by 13.62%, reaching $154.26 million in revenue compared to $105.38 million the year prior. The national gym chain recorded a net income of $18.6 million, up from a $3.3 million loss during the same period last year. Front Office Sports
November 8, 2021
Asics North America Delivers Double-Digit Growth In Q3
Asics said that for a third consecutive quarter, its North America region experienced a double-digit quarterly sales increase year-over-year. Looking ahead, Asics raised its outlook for profits for the full year. Asics still expects sales in the full year of ¥395,000 million, up 20.1 percent. Operating income is now expected...
November 8, 2021
Brooks Continues Running at Record Pace through Q3 with Year-to-Date Revenue Up 44 Percent
Brooks’ revenue increased for an eighth consecutive quarter in Q3 2021. From January through September 2021, Brooks grew revenue 43.5 percent globally. In the U.S. adult performance running footwear category, Brooks captured 19% market share, based on revenues, and gained 2 percentage points, versus last year, according to The NPD...
November 5, 2021
Dorel reports its Sports division saw revenue decline 1% in Q3 ahead of sale to Pon
Dorel Industries reported sales of $304 million in its Dorel Sports division in its third fiscal quarter this year, a 0.6% decline over sales in the same period last year. For the Sports division, organic revenue (excluding the impact of exchange rates) was down 1.2% in the quarter. Operating profit...
November 5, 2021
Peloton freezes hiring after it slashes its forecast and shares drop 35%
Peloton halted hiring across all departments effective immediately during an all-hands meeting on Friday, CNBC has learned. The news comes a day after after Peloton slashed its full-year outlook amid slowing momentum for its fitness products. Peloton dropped 35% on Friday, wiping off more than $9 billion off its market value....
November 5, 2021
Fleet Feet Snaps Up JackRabbit, Sprints Ahead in Specialty Run
Fleet Feet has agreed to acquire JackRabbit from affiliates of CriticalPoint Capital. The acquisition was announced today, and Fleet Feet said via statement the transaction is expected to close in early December. The transaction, according to Fleet Feet, includes all JackRabbit brick-and-mortar locations, which spans 15 states, as well as...