News Topics
November 14, 2022
Meta Cancels Development of Health and Messaging-Focused Smartwatch
Meta has scrapped the development of its health and messaging-focused smartwatch, in an abrupt end to the company's plans to directly compete with the Apple Watch. Meta's smartwatch development team will now switch to building augmented reality glasses, according to chief technology officer Andrew Bosworth, who runs Meta's Reality Labs...
November 14, 2022
Nike Launches New Metaverse Marketplace and Community
Nike today announced the launch of .Swoosh, a new metaverse marketplace platform meant to foster a “inclusive digital community” for athletes and Nike consumers. The blockchain-powered platform will allow users to connect with other athletes and consumers, obtain virtual products and engage in immersive experiences. FN
November 13, 2022
What Does It Take to Close the Roads for a Triathlon?
When endurance athletes think of a race director, they might picture the person on the loudspeaker shouting instructions race morning, or the one ordering too many extra-large tees and not enough mediums. But behind the scenes, the bulk of a race director's work (and budget) goes toward securing and preparing...
November 12, 2022
Incoming New York Road Runners Chair Says Breaking Doping Rule Was Unintentional
Nnenna Lynch, the incoming chair, serves on the committee that oversees the prohibition on runners (like her) who once served a doping suspension from racing. But she has raced anyway. NY Times (Paywall)
November 11, 2022
Aventon eBike label reportedly gains Sequoia Capital backing
The electric bike brand Aventon has reportedly drawn the interest and investment of Sequoia Capital’s Chinese arm. For Aventon the investment reportedly takes the company’s valuation from $200 million eight months ago when China’s Gao Rong Capital invested to a post-investment valuation of $590 million, according to sources tapped by...
November 11, 2022
Fitness Chains Continue Pandemic Recovery In Q3
Planet Fitness, Xponential Fitness and Life Time Group Holdings all raised their full-year guidance and reported a strong uptick in revenues and membership growth in the third quarter, although membership activity has yet to return to pre-pandemic levels. Executives on analyst calls said they remain bullish on continued improvement in...
November 10, 2022
Why The Running Event Is Welcoming New Brands and Embracing the Outdoors
Last November, in its return to in-person events, The Running Event (TRE) reported a slight dip in exhibitors, but record high attendance for retailers and media. Headed into its upcoming show this month in Austin, Texas, executive director Christina Henderson said participation has rebounded on all fronts. FN
November 9, 2022
Life Time Lifts Guidance As Q3 Beats Plan
Life Time Group Holdings, Inc. slightly lifted its outlook for the year after reporting third-quarter results that topped its guidance. Sales were ahead 28.9 percent as fitness center memberships were up 9.0 percent year-over-year. Total revenue increased 28.9 percent to $496.4 million from $385.0 million; net income was $24.7 million...
November 9, 2022
Wolverine Stock Slides as Company Misses Revenue and Profit Targets in Q3
Total revenue in the third quarter of 2022 was $691.4 million, which represents growth of 8.6% versus the prior year. Net earnings were $38.8 million, down 0.8% from the same time last year. By brand, Merrell's revenue was $198.6 million in the quarter, up 33.6% compared to the same period...
November 9, 2022
Squaw Valley 1960 Olympic Winter Torch sells for $720,000
The Squaw Valley 1960 Winter Olympic Games Torch, which was once in the possession of Walt Disney, has fetched $720,000 (£621,000/€714,000) at auction to an unknown buyer. Disney, who was the chairman of the Games Pageantry Committee, gave the Torch to film producer, writer and director Tom Leetch for his...