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 23, 2023
Peloton shares drop 20% after posting wider-than-expected loss, falling sales due to Bike recall, seasonality
Pelotonon Wednesday reported a wider-than-expected loss and a quarterly drop in new subscribers that it blamed on its recall of its Bike seat post and seasonality, sending shares plunging about 20%. The company fell short of analysts’ earnings estimates but beat sales expectations. CNBC
August 23, 2023
Gympass Hits $2.4B Valuation After Latest Funding Round
Gympass, a top corporate wellness platform, has raised $85 million in a Series F funding round at a valuation of $2.4 billion, an eye-watering number given the struggles of other fitness industry companies in the current economic environment. EQT Growth led the funding round, with participation from Neuberger Berman Group...
August 22, 2023
Dick’s Lays Off 250 Workers, Cites Theft for Q2 Profit Drop
After a second quarter where profitability fell short, Dick’s Sporting Goods announced a business optimization program that involved laying off 250 employees at the corporate level, as first reported by Bloomberg Business. Dick’s said that the business optimization plan is intended to better align its talent, organization design, and spending....
August 22, 2023
New influencer partnership enhances Wexer’s multi-lingual content provision
TUESDAY 22ND AUGUST 2023, LONDON/ENDURANCE SPORTSWIRE/ – Digital fitness expert Wexer has unveiled a new content partnership with influencer Sophie Joline Fischer – aka Cycling Sophie – which for the first time enables Wexer to deliver German language content across its Mobile and in-club Virtual platforms. Cycling Sophie was created with...
August 21, 2023
John McEnroe Tennis Academy partners with Evolution Optiks’ OcuRay for neuro fitness wearable
The John McEnroe Tennis Academy is partnering with the OcuRay division of Evolution Optkis on a vision training wearable to improve its athletes’ neuro fitness. The youth tennis players will use FalconFrames, lens-less glasses that track eye movement and use AI algorithms to detect impairments and help wearers train their vision...
August 21, 2023
Humango Announces Partnership with Triathlete and Coach Matt Hanson
August 21, 2023, (Boulder, CO) /ENDURANCE SPORTSWIRE/ - Humango, an AI-powered digital coaching platform, has announced its partnership with professional triathlete, coach, and six-time Ironman champion, Matt Hanson. This sponsorship furthers the company’s commitment to improving athletic performance and motivation through personalized training plans. Hanson’s coaching business, Matt Hanson Racing,...
August 19, 2023
Boutique American bike brand announces closure
The American parent company of All-City Cycles, Quality Bicycle Products (QBP), has announced that its boutique bike brand will be "retired in a few years," with "no new product development beyond model year 2024." Cycling Weekly
August 18, 2023
Saucony, ASICS Gaining on HOKA
HOKA’s sales grew from about $900 million to $1.4 billion from fiscal 2022 to 2023 and it’s still rocketing upward. The big movers are ASICS and Saucony and the moves are striking. Saucony has almost doubled its share, from 12 percent to 21 percent, in a 3-year span. HOKA’s lead...
August 18, 2023
Meta Pushes Into VR Fitness: Why the Tech Giant Is Just Getting Started
In early 2023, Meta completed its acquisition of Within, maker of the popular VR fitness app Supernatural, for a reported $400 million, cementing the tech company’s entry into the space. In the four years or so between its first foray into VR and its decision to shell out big bucks...
August 17, 2023
Peloton launches new approach to B2B service
New York-based Peloton announced the launch of Peloton for Business, its new B2B offering that will supply equipment and content to clients in the sectors of corporate wellness, multifamily residential businesses, hospitality, community wellness, healthcare, education and gyms. The company will offer access to its Peloton Bike for use by...
