Peloton, in a note on its website, confirmed it is considering layoffs, but denied a report that the company would temporarily halt production of its bikes to realign supply with softer demand. In a separate press release, Peloton indicated its fiscal second-quarter revenue would be within its previously forecasted range.
Category: Outdoor
WFSGI Appoints Head Of Cycling
World Federation of the Sporting Goods Industry (WFSGI) announced that Michelle Smyth is its new head of cycling.
Report: Peloton Suspends Bike And Treadmill Production Amid Slowdown
According to a confidential internal presentation dated January 10 attained by CNBC, Peloton has paused its Bike production for two months, from February to March, due to a “significant reduction” in demand attributed to heightened price sensitivity and competition.
Lolë Appoints Vice-President of Sales
Lolë announced it had appointed Nadine Garneau as vice president of sales.
Cardinal Cycling Group Acquires Detroit Bikes
Cardinal Cycling Group has acquired the assets of Detroit Bikes, including the brand, inventory and production facility. Zak Pashak, Detroit Bikes founder, will remain a partner in the new company and continue factory management and business development.
JD.com Partners With Shopify
Chinese online retailer JD.com announced it had formed a strategic partnership with Ottawa-based Shopify to help U.S. merchants sell their products in Mainland China. The partnership marks a step up in the China expansion for Shopify and is another in JDs internationalization trajectory.
Atomic Appoints Creative Director, Freeride And Freeski
Atomic has hired freeskier and artist, Chris Benchetler, as creative director, Freeride and Freeski. In this role, he is responsible for visuals, creative and design for the brand’s global freeride and freeski products.
Trango Climbing Hires Director Of Product
Trango announced Ty Foose as their new director of product. As one of the original founders of the climbing hold brand eGrips, acquired by Trango in 2002, Foose’s experience will be vital as the brand continues to expand innovation upon all product ranges from sport, trad, gym, bouldering, to alpine climbing.
GOA Report: 2021 Growth At Specialty Independent Outdoor Retail
GOA released sales data showing an uptick in holiday season sales and a record-setting two years of sales increases.
SRAM Acquires Hammerhead
SRAM announced Wednesday the acquisition of Hammerhead which makes the Karoo 2 GPS cycle computer.
Women’s Sports Foundation Welcomes New President And Board Of Trustees Chair
The Women’s Sports Foundation (WSF) welcomed Olympic and World Champion in ice hockey and New Jersey Devils (NHL) Manager, Player Development Meghan Duggan as its new President, and Executive Director of the Ivy League Robin Harris as its Board of Trustees Chair.
HEST Announces Team Growth
HEST, the manufacturer of outdoor sleep products, announced three new hires—Frank Pet, chief financial officer; John Maguire, digital marketing manager; and Jeff Krahenbuhl, sales director.
Kent Watersports Rebrands To Kent Outdoors, Acquires BOTE And Kona Bicycles
Seawall Capital, the private equity owner of Kent Watersports, announced the company’s rebranding to Kent Outdoors and the acquisition of BOTE and Kona Bicycles. It said the rebranding and acquisitions would help the company better serve America’s growing interest in the great outdoors on and off the water.
Dick’s SG Closes $1.5 Billion Debt Sale
Dick’s Sporting Goods, Inc. announced the closing on January 14, 2022, of its previously announced offering of $750 million of 3.15 percent senior notes due in 2032 and $750 million of 4.1 percent senior notes due 2052.
Sportsman’s Warehouse’s Reports Flat Sales Over Holiday Period
Sportsman’s Warehouse, Inc. reported net sales in the eight weeks ended December 25 were $299.6 million, which was flat versus the comparable eight weeks of fiscal year 2020. Compared to the same eight-week period of fiscal year 2019, net sales increased 59.3 percent from $188.1 million.
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