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.
August 1, 2024
Life Time Holdings Q2 Profit Surge on High-Teens Revenue Growth
Life Time Group Holdings, Inc. reported second quarter revenue increased 18.9 percent year-over-year to $667.8 million, which was attributed to continued growth in membership dues and in-center revenue, and driven by an increase in average dues, membership growth in its new and ramping centers, and higher member use of its in-center offerings. Center...
July 31, 2024
EXEC: Adidas Group Doubles Q2 Profits on Double-Digit Sales Growth X-Yeezy
Adidas Group CEO Bjørn Gulden reported that the second quarter was another that confirmed the company’s improvement and progress toward becoming healthy again. Gulden noted that consumers and retailers continue showing strong and increased interest in the Adidas brand and products. He said this was “clearly reflected” in the 16 percent growth for the underlying Adidas...
July 30, 2024
EXEC: Shimano Sees Continued Headwinds Drive H1 Sales and Profits Lower
Shimano Inc. is reporting that the pace of global economic recovery was moderate during the first half of fiscal year despite some factors that continued to exert downward pressure on the current economic climate, including tight monetary policies adopted mainly in Europe and the U.S., geopolitical risks caused by rising...
July 30, 2024
Cycling has a weight problem: a call for the industry to be more transparent about its weight limits
Cycling has a weight problem. No, I’m not talking about the pressures on the pro peloton to be as light as possible to improve their power-to-weight ratio. I’m not even talking about the rampant diet culture that assumes people ride bikes predominantly for weight loss. The weight problem I’m referring to...
July 30, 2024
Brooks Running Continues 2024 Surge with All-time Record in Quarterly Revenue
Brooks Running reached a new record in global quarterly revenue in the second quarter of 2024, up 15% year over year driven by double-digit growth in its wholesale and direct-to-consumer channels. In North America, Q2 revenue increased 19% year over year with continued success of the brand’s Glycerin 21 super franchise,...
July 26, 2024
After the bike industry’s pandemic boom and bust, what’s next?
Investment bank Houlihan Lokey, with management consulting firm Kearney, recently released a research report [PDF] attempting to predict what the next few years look like for the bike industry, and it’s overall a rosy picture: supply chains stabilizing, inventory overhang dissipating, and gradually rising sales. But the most interesting prediction was a...
July 25, 2024
Nutrition brand Maurten scores $22 million investment
Swedish sports nutrition brand Maurten has closed on a 20 million euro ($21.7 million) investment led by IRIS Ventures. The investment round also had participation from existing investors including Dan Sten Olsson, the CEO of Stena Sphere, a Swedish investment firm. Maurten, founded in 2015, offers high-carbohydrate gells, drinks and...
July 25, 2024
Deckers Continues to Ride High With Help From Hoka and Ugg in Q1, Finds New Home For Sanuk
Shares for Deckers Brands were up over 8 percent in after-hours trading on Thursday as the company continues to see robust sales from Hoka and Ugg. The Goleta, Calif.-based footwear company reported net sales in the first quarter of 2025 increased 21.1 percent to $825.3 million compared to $675.8 million the same...
July 23, 2024
Maurten Secures $22M for Next-Gen Energy Gels
Maurten, a Sweden-based sports nutrition company that’s created an advanced carbohydrate fuel ecosystem, is having a stellar month, just in time for the Olympics. Following a €20 million ($21.7 million) investment led by IRIS Ventures, the brand is now entering its next growth phase, with plans to expand beyond sports...
July 19, 2024
ABG Owner Peter Hurley Passes Away
Peter Hurley, the owner of American Bicycle Group (ABG), under which are the brands Quintana Roo, Litespeed and OBED, passed away this morning from a heart attack at the age of 67. He had just finished a run with his wife Lorraine. Peter came to the bike and triathlon industry...