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.
September 16, 2021
Court of Arbitration for Sport (CAS) releases official report on Salazar ban
While the report seemed to cast some doubt on the appropriateness of the bans, while still upholding them, CAS ruled that Salazar had committed three anti-doping rule violations, including possession of testosterone, complicity in Brown’s administration of a prohibited method and tampering with the doping control process with respect to the...
September 16, 2021
Don’t look back, Peloton—Apple might be gaining on you
Apple’s Fitness+ is taking on a decided Peloton vibe. But rather than readying itself to make its own exercise equipment, Apple is after something bigger. Fast Company
September 15, 2021
On Running Shoemaker’s IPO Beats Target to Raise $746 Million
The maker of On Running performance shoes priced its U.S. initial public offering above a marketed range to raise $746 million. On Holding AG and some of its investors sold 31.1 million shares for $24 each on Tuesday, according to a statement confirming an earlier report by Bloomberg News. The company had...
September 14, 2021
Fitbit, Apple fitness tracker data exposed on unprotected database
A database that was not password protected exposed more than 61 million records containing data from fitness trackers and wearables, according to a breach report by WebsitePlanet and security researcher Jeremiah Fowler. His team found many of the exposed records contained information like first and last name, display name, birthdate, weight, height, gender and geolocation...
September 13, 2021
Nike downgraded by BTIG amid continuing COVID-related supply chain disruptions
As a result of worsening supply chain disruption in Vietnam, BTIG has downgraded Nike’s rating from Buy to Neutral. Over the past few months, COVID-19 cases in Vietnam have continued to rise, with its fully vaccinated rate only between 4% and 5%. In response, Vietnamese government officials have responded by closing down manufacturing...
September 8, 2021
Goldmeiers plead guilty to PPE hoarding and price gouging
Bike industry veterans and former owners of Ross Bicycles, Steven and Allen Goldmeier, agreed to pay $1 million in restitution to the State of Oklahoma for hoarding surgical masks and selling them at "exorbitant" prices to the state. BRAIN
September 8, 2021
Lululemon Surges on Post-Pandemic Growth
Lululemon posted $1.45 billion in second quarter earnings, a 61% rise from the same period last year, when the pandemic had shuttered much of its in-person retail. The growth represented more than just a pandemic bounceback: Revenue was also up 64% from Q2 2019. FOS
September 7, 2021
On Launches Initial Public Offering
ZURICH, Sept. 7, 2021 /PRNewswire/ -- Swiss performance sportswear brand On announced today the launch of its initial public offering of 31,100,000 Class A ordinary shares. On is offering 25,442,391 Class A ordinary shares and certain selling shareholders are offering 5,657,609 Class A ordinary shares. In connection with the offering, On and...
September 3, 2021
Best Buy adds e-Bikes & Geek Squad assembly; Bird takes off with new BirdBike
Mega-retailer Best Buy is throwing its weight into e-mobility by offering electric transportation products including scooters, mopeds, and, yes, e-bikes. It also aims to compete with local bike shops with its Geek Squad, which will assemble and tune bicycles purchased at the store, including brake, seat, and handlebar adjustments for...
September 2, 2021
Company WHOOP Acquires Velocity-Based Training System PUSH
Performance wearables company WHOOP announced that it acquired velocity-based training (VBT) system PUSH. The acquisition marks WHOOP’s entrance into the VBT market and comes just days after it received a valuation of $3.6 billion. BarBend