Brooks’ Running reported revenue rose 24 percent year over year in the third quarter and is ahead 43.5 percent in the nine months.
The gains for the Berkshire Hathaway-owned brand marked the eighth consecutive quarter of increases.
Brooks said in a statement that its leading footwear franchise styles led the gains as revenue from the Adrenaline GTS, Ghost, and Glycerin franchises are up 50 percent versus 2020. Brooks also noted that according to The NPD Group Retail Tracking data, Brooks captured 19 percent market share of the adult performance running footwear category, based on revenues, and gained 2 percentage points, versus last year.
“More than twenty years ago, we made a big bet that if we put the runner at the center of everything we do—delivering the product they need and then celebrating the many reasons they run and the positive energy they get from it—we could become a leading brand in run,” said Jim Weber, CEO at Brooks. “We look forward to welcoming more people into the running community as we close out 2021 and enter the new year.”
Brooks’ said its growth is benefitting from distinctive products, a premium brand positioning, strong multi-channel distribution, digital engagement, and a tailwind of increased participation in running and walking around the world.
Brand Momentum in the Face of Disruption
Brooks said it entered the third quarter with strong brand demand amid ongoing pandemic-related quarantines and mandated factory shutdowns coupled with widespread supply chain disruptions. These headwinds began to affect Brooks’ ability to meet consumer demand for the quarter, reducing revenue in September. Brooks said it expects the impacts to continue through Q2 2022 and added it is “well positioned to manage through the disruption with strong partnerships in its geographically diverse yet categorically focused supply chain ecosystem.”
Return to Racing
With the sport finally opening in Q3 after closures that began in March 2020, Brooks athletes competed in major events around the world. Brooks Beasts athlete Josh Kerr won an Olympic bronze medal in the men’s 1500m representing Great Britain. Coached by Danny Mackey, Kerr is the first Brooks athlete to win an Olympic medal. (Kerr wore Nike shoes during the race as Brooks faced due to supply chain-related delays developing its own spike.)
Bryan Bhark, Senior Developer of Footwear Innovation at Brooks, joined over 1,600 competitors for the world-renowned TDS mountain ultramarathon in Chamonix, France, and placed 19th overall with a time of 22:49:43. Brooks athlete CJ Albertson led the Boston Marathon for more than 20 miles, finishing in 10th place overall and second among American men at 2:11:44.
Running Responsibly
Brooks noted that this week it recognized the one-year anniversary of signing the Climate Pledge and its commitment to achieve net-zero carbon emissions by 2040. In 2021, the push was highlighted by the launch of the Ghost 14 as carbon-neutral through a combination of recycled materials and quality carbon offsets.
Photo courtesy Brooks
