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 4, 2021
Former Nike Manager Sentenced to 31 Months in Prison on Embezzlement Charges
A federal judge on Tuesday sentenced a former Nike Inc. marketing manager to 31 months in prison and three years of supervised release on charges related to embezzlement. Errol Andam, who worked at Nike between 2001 and 2018, was also ordered to pay more than $1.6 million in restitution. FN
August 4, 2021
Hydrow In Talks to Go Public at $1 Billion Valuation
Hydrow, seller of connected fitness rowing machines, is in talks with Sandbridge X2 Corp. to go public via SPAC, which would reportedly value the company at more than $1 billion. Front office Sports
August 3, 2021
Wolverine Acquires Sweaty Betty for $410 Million as It Looks to Expand Digital and Reach More Women
Wolverine World Wide is furthering its goal to expand its digital presence with the acquisition of fitness lifestyle brand Sweaty Betty. The move represents Wolverine’s commitment to e-commerce, which also gives Wolverine a stake in the competitive women’s activewear category. FN
August 3, 2021
Under Armour Raises Full Year Outlook As Q2 Blasts Past Analyst Targets
Under Armour, Inc. surpassed Wall Street’s estimates: revenue was up 91% to $1.4 billion, up 85% currency-neutral, compared to the prior year. Wholesale revenue increased 157% to $768 million and direct-to-consumer revenue increased 52% to $561 million. North America revenue increased 101% to $905 million, and international revenue increased 100%...
August 1, 2021
Facebook’s Oculus Move Taps Into Apple Health
Apple and Facebook have the potential to collaborate on something truly special – a gamified universe centered around health. A potential integration between Oculus Move and Apple Health has big implications, as the future of tech appears to be rooted, at least partially, in health and fitness. Front Office Sports
July 31, 2021
This Is How Safe It Is to Go to the Gym Right Now
As COVID-19 cases begin to rise again in all 50 states and the CDC is now recommending even vaccinated individuals wear masks indoors in certain cases, is it safe is it to go to the gym right now, if you should go at all? Men’s Health asked doctors, infectious disease...
July 31, 2021
IOC acknowledge current transgender guidelines out of date with new framework to be revealed
International Olympic Committee (IOC) medical and scientific director Richard Budgett has acknowledged current guidelines around transgender athletes are no longer fit for purpose, with the organisation set to publish an updated framework to guide International Federations in devising their own rules. Inside The Games
July 30, 2021
How Deckers Is Stealing More Running Market Share as It Aims to Turn Hoka One One Into a Billion-Dollar Brand
Hoka One One once again presented standout results in Deckers’ Thursday Q1 earnings report. The parent company of the Ugg, Hoka One One, Teva, and Sanuk brands, reported a revenue increase of 78.2% to $504.7 million for Q1 of fiscal year 2022. With Hoka’s overall revenue increasing 95% to $213.1 million, the fast-growing...
July 29, 2021
Wolverine Sees Trends Accelerating Toward Hiking, Run And Work
Led by Merrell and Saucony, Wolverine Worldwide’s second-quarter results came in well above Wall Street estimates. In the quarter ended July 3, revenue jumped 81.0 percent to $631.9 million, topping Wall Street’s consensus estimate of $573 million. SGBMedia
July 29, 2021
Silofit secures US $10.25M Series A led by Whitecap Venture Partners
The Series A brings the total funds raised by Silofit to date to CDN $19.4 million. Silofit turns small office spaces into high-end, private micro-gyms (Silos) that are used by fitness trainers and their clients, and individual gym-goers. Silofit will use the new funds to support its expansion to the...