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.
October 31, 2021
From Nike to Peloton, Supply Chain Issues Unavoidable
Global supply chain issues have affected major corporations, forcing them to rethink their manufacturing strategies. Some companies have even considered shifting to a more domestic approach. Read more to understand the current predicament corporations are faced with. Front Office Sports
October 29, 2021
Inside The Call: Hoka One One Again Stars For Deckers
Deckers Brands reported sales and earnings missed Wall Street’s targets in its fiscal second quarter ended September 30 as numerous supply chain challenges slowed Ugg’s growth in the quarter. However, the company still maintained its revenue outlook for the full year, driven by its projected 50-plus percent growth at Hoka...
October 28, 2021
Skechers Slightly Lowers 2021 Outlook On Q3 Miss
Profits at Skechers USA surged 61.0 percent in the third quarter ended September 30 on a 19.2 percent revenue gain, but both sales and earnings came were below guidance. The footwear giant slightly lowered its EPS and sales targets for the full year. Skechers achieved a new third quarter sales...
October 28, 2021
Facebook Rebrands to Meta, Rolls Out VR Fitness Apps
Facebook is looking to become a different type of company, starting with its name: The social networking giant is rebranding its parent company to Meta. Meta will oversee Facebook, Instagram, WhatsApp, and Oculus, the latter of which is of growing importance to Facebook’s ambitions in the metaverse — hence the name. The rebrand was revealed by...
October 28, 2021
Olympics Draws $1.8 Billion in Revenue, But Comcast Mum on Profit
The long-delayed Tokyo Olympics paid off handsomely for NBCUniversal, as the company booked $1.76 billion in revenue over the course of the 17-day event. That marked a 9% increase compared to the $1.62 billion NBCU generated during the 2016 Summer Games in Rio. However, Comcast did not confirm that it had made a...
October 27, 2021
Fitness Segment Boosts Garmin’s Revenue to $1.19B
Garmin reported $1.19 billion in third-quarter revenue Wednesday — with net sales for its fitness segment growing 4% to more than $342 million. During the first three quarters of 2021, the company’s net fitness sales increased 26% from the same period last year. Known for its GPS devices, Garmin is making strides...
October 27, 2021
Shimano sales up 54% through first 9 months
Sales in Shimano's bicycle division were up 54% in the first three quarters of the company's fiscal year, compared to the same period last year. "Strong demand for bicycles remained at high levels in all markets, against a backdrop of the global cycling boom, triggered by the spread of COVID-19,"...
October 26, 2021
NPD Sees Performance Footwear Sales Climb 15 Percent In Third Quarter
The NPD Group reported total U.S. performance footwear sales grew 15 percent in the third quarter while leisure footwear sales climbed at a slightly lower rate. Fashion footwear sales continued to underperform, decreasing high-single-digits. The 15 percent gain in performance footwear marked a slow down from the 31 percent jump...
October 26, 2021
Apple Expands Fitness+ as Brick-and-Mortar Gyms Bounce Back
Apple Fitness+ is expanding to 15 new countries as the at-home fitness movement persists alongside the return of gyms. The company has paired its subscription workout program with its signature wearable, offering six months of Apple Fitness+ with an Apple Watch purchase. The Watch tracks biometrics such as heart rate,...
October 24, 2021
Italy have bikes stolen at UCI Track Cycling World Championships
A total of 20 bikes belonging to Italy’s cycling team and valued at several hundred thousand euros have been stolen during the International Cycling Union Track Cycling World Championships in French city Roubaix. Thieves stole 15 track bikes and five others on Friday evening (October 22) from a hotel in...