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U.S. Olympic Trials open with a dark cloud over Nike’s Bowerman Track Club
By: Brian Metzler
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The U.S. Olympic Trials get started today in Eugene, Ore., with a lot of the usual anticipation and excitement that goes along with the track meet that selects the U.S. Olympic track team. The meet runs through July 27 and will be broadcast live on NBC and NBC Sports Network, as well as through NBC’s Peacock livestream service.
But it also opens with a dark cloud hanging over the newly reconstructed Hayward Field track stadium because of Shelby Houlihan’s doping conviction and the peculiar ways Nike and USA Track & Field have handled it.
To quickly review, Houlihan, a Nike-sponsored athlete who holds the American record in the 1,500m (3:54.99) and 5,000m (14:23.92), provided an out-of-competition urine sample in December that was positive for nandrolone — specifically 19-norandrosterone, aka nandrolone — an anabolic androgenic steroid prohibited at all times according to the World Anti-Doping Agency’s prohibited list.
Story Continues.
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Nike will release earnings next Thursday. Overall, the view has been somewhat bearish with shares down 7% in the last 90 days. In Nike's previous earnings call, North American revenue was down due to shipping delays, but revenue growth in China led the company to beating analyst predictions. This call may be the opposite. The shipping delays related to the Suez Canal blockage had been fully resolved by the start of the quarter, but growth in China could be sluggish due to the protests surrounding forced Uyghur minority labor.
Software security company McAfee exposed a vulnerability in the Peloton Bike+ that allows attackers to install malware through a USB port. This could give hackers the ability to spy on bike users and also install fake versions of apps to steal login information. Peloton said it pushed a mandatory update to all effected devices last week. Shares dipped slightly, about 1%, after the news went public.
Covid outbreaks in Southern China are threatening to cause worldwide goods shortages and rising prices. The outbreak in Guangdong, a key industrial and shipping center, has caused lockdowns and a major shipping backup. Meanwhile, the rapid increase in demand as the global economy reopens and a shortage in shipping containers have caused shipping costs to increase over 300%. This backup could have an impact on inventory in the US during holiday season, causing high prices and limited availability.
Dick's CEO Lauren Hobart spoke at the CNBC Evolve Global Summit on Wednesday, addressing supply chain challenges and how Dick's has set an example for retailers navigating covid-related difficulties. The company managed very strong comps despite inventory challenges through the pandemic, and during re-opening, were able to hugely cash-in on return to demand, selling more in Q1 2021 than all of 2019. Dick's shares were flat during the conference, but are up almost 20% in the last 90 days.
REI named Hoka One One, a subsidiary of Deckers Corp, its top vendor partner of 2020. Hoka, which Deckers acquired in 2012, has grown explosively, shown by Deckers' very strong Q4 earnings call highlighting Hoka as the leading source of growth. After REI's announcement, Deckers shares were up about 1%.
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The market for investing in fitness and healthy living continues to be white hot. Already in June, we have seen the following deals:
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Superfeet, the popular sports insole brand, just sold a majority stake this week to Westward Partners, a private equity firm. No word on valuation.
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Lance Armstrong’s NEXT Ventures participated in a $2,800,000 financing round for Terra, a company that provides APIs for health and fitness data.
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Beachbody, which went public through a SPAC, will close on its merger with Myx next week. Myx is a stationary bike/home fitness company. Both companies performed well in Q1 with their combined revenue up 40% from the prior year.
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In other SPAC news, SIGNA Sports United, a sports etailer and tech company will go public in a SPAC. When combined with another acquisition target, WiggleCRC, the SPAC will be valued at more than $3 billion.
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Hydrow, the Peloton of rowing machines, absolutely crushed it during the pandemic. Rumors continue to swirl that the company will pursue an IPO at a valuation of $1 billion or more. The company’s revenue grew 400% during the pandemic.
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Vital, a glucose monitoring company that provides a snapshot of athletes’ metabolic health, just raised a pre-seed round that will help propel its mission to become the “Strava for healthcare.”
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Tata, the massive Indian conglomerate, will invest up to $75,000,000 in fitness company CureFit.
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Framework raised $3,000,000 from True Ventures, a firm that had previously invested in healthy living companies like Peloton, sweetgreen and Fitbit. Framework provides health and wellness companies a way to build platforms to interact with customers/patients without relying on big social media platforms.
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Specifications (according to HOKA ONE ONE)
Weight: 7.6 oz (W) 8.8 oz (M)
Stack Height: (M) 29mm/24mm (W) 26mm/21mmDrop: 5 mm
Category: Neutral/Everyday Trainer
($150)
What’s New:
- Lighter EVA midsole: the brand claims a 15% weight reduction in the foam
- Added rubber: contributes to durability and surefootedness
What You’ll Love:
- Comfortable plush upper heel collar and tongue that keeps foot secured at any distance
- Ultra-responsive cushioning
- Guided heel to toe strike transitions
The Clifton line from HOKA ONE ONE has been one of the most popular picks for an everyday trainer since its launch in 2014. We previously shared reviews from other publications but wanted to give our thoughts since we finally got our hands on them. As you'll read, we certainly weren't disappointed.
Out of the box and in hand, you'll notice how light the shoe really is especially for all the added cushioning and larger stacked midsole. As usual with running shoes, I opted for a wider model and for a half size up. I personally like a little room to wiggle around in, especially while distance running so this was a perfect fit for me. Two things I especially love about the fit of the Clifton 8 were the extended heel collar and extra padded tongue. You'll notice the materials (all 100% vegan) feel extremely high quality which went a long way for maximizing comfort on my test runs.
It feels that HOKA has built a reputation as the leader when it comes to neutral and cushiony supportive shoes and to me the Clifton 8 will certainly help cement that legacy. Their updated EVA Foam midsole provides a perfect balance of cloud-like cushion and trampoline-like bounce. The foot strike gets high marks for me as well thanks to their Meta-Rocker tech that guides you nicely from heel to toe. Durability comments will have to come later as I am only about 50 miles into these bad boys but so far there is only minimal signs of wear and tear. When I am not running, these stylish shoes are great for long dog walks or strolling around the park.
Overall, the Clifton 8 kept my feet and legs fresh after a few long-distance runs but also was versatile and light enough to keep up with my tempo runs. I really find it hard to be critical regarding anything about this shoe, it's just that good. Want to log your summer miles with your feet feeling like they're stepping on pillows? Definitely don't overlook the Clifton 8 when considering your options.
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New Balance
Fresh Foam 1080v11
Six Minute Mile Review
Out now
Saucony
Endorphin Speed 2
June 21
($160)
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HOKA ONE ONE
Zinal
Six Minute Mile Review
Fall 2021 |
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Social Media Coordinator
Nautilus
 Vancouver, WA
Administer a variety of online social communities to position Nautilus brands as the leader in home fitness solutions.
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Senior Manager, Leadership Development
Zwift
Long Beach, CA
Design, create, and deliver leadership development programs that build effective leadership skills and drive brand values to promote program effectiveness. Estimated Salary: $145,000 - $170,000.
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Senior Product Line Manager Run/Train Apparel
PUMA
Boston, MA
Responsible for the product briefing, ongoing research and analysis of competitor and market price, analysis of sales reports to monitor performance, oversee design and development to reflect global market needs. Estimated Salary: $100,000 - $150,000
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Director of Digital Merchandising
Jackrabbit
Denver, CO
Build and manage the Site Experience team at Jackrabbit to promote digital merchandising, aesthetics, and brand storytelling, lead Marketing team to develop a personalized website experience.
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Director of Event Marketing
Spartan
New York, NY
Strategize and implement Spartan Events marketing strategy to drive brand recognition and revenue, be the voice of the race brand and the consumer, as well as the leader and ambassador in the company.
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Global Creative Director
HOKA
Goleta, California
Lead the HOKA creative team in the design, production, and deployment of all creative content utilized across all marketing channels, develop brand standards and promote the diversity of thinking.
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Senior Brand Marketing Manager
Merrell
Rockford, Michigan
Lead the development and execution of strategic marketing plans for brand initiatives, maximize sales growth and deepen consumers awareness for Merrell’s product offering. Estimated Salary: $100,000 - $150,000
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1Estimated salary based on comparable positions and reported salaries in the industry.
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Upcoming Major Marathons Participation Compared to Typical Years
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London Marathon
2021: (50,000)
2019: (53,00)
Boston Marathon
2021: (20,000)
2019: (30,000)
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Chicago Marathon
2021: (35,000)
2019: (56,000)
NYC Marathon
2021: (33,000)
2019: (64,000)
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Cool Down: Top stories from the past week that you shouldn't miss.
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