Brooks Running reported that it achieved record revenue in the first quarter of 2024, with sales up 9 percent year-over-year, and represented the highest quarterly results in the company’s history. The performance running brand noted consistent execution of its multichannel strategy and accelerated product innovation pipeline delivered results as inventories remained healthy and the running category experienced global growth.

The solid, high-single-digit growth in Q1 comes after Brooks finished 2023 with record revenue of $1.2 billion, up 5 percent year-over-year, and a record 20 million-plus units sold. Despite the mid-single-digit gain for the year, Brooks announced that its compound annual growth rate (CAGR) exceeded 14 percent since 2018, and its U.S. business was approximately $1 billion last year.

Brooks saw its global e-commerce business increase 22 percent in the 2024 first quarter compared to Q1 2023, with 38 percent year-over-year growth in March. Strong North America sales, up 13 percent relative to Q1 2023, led its success in the U.S. Brooks said it had the No. 1 market share in the adult performance running footwear market at U.S. national retail for the ninth consecutive quarter, according to third-party data and the company regained the top spot in the U.S. specialty footwear segment in the first quarter.

Brooks also reported that it gained momentum in key global markets in the quarter. 

In the Asia, Pacific, and Latin America region, first-quarter revenue increased in Australia and China, up 38 percent and 180 percent year-over-year, respectively. The brand’s Europe, Middle East and Africa (EMEA) business reportedly “continued to manage well through ongoing retail uncertainty” in the region, growing e-commerce 10 percent year-over-year.

“Brooks’ runner-first strategy and execution continue to drive success for our brand on a global scale,” said Dan Sheridan, CEO of Brooks Running. “We’re working hard to deliver what runners and active people need and want from their gear, and we service them well wherever they choose to engage with our brand and team; this is what sets Brooks apart.”

In Q1, the brand launched six new footwear styles, contributing to 10 percent growth in footwear sales year-over-year, which the company said would be a record year for product introductions.

In February, Brooks launched the latest version of its premium cushion franchise shoe with the Glycerin 21 and Glycerin GTS 21. Glycerin 21 sales, up 39 percent compared to Q1 2023 sales of the Glycerin 20, and the style’s popularity in the running category resulted in three points of market share gain in March.

Looking more broadly at the cushion category, Brooks said its product continues to excel, holding half of the Top 10 spots among U.S. specialty footwear styles, with the Glycerin and Glycerin GTS, Ghost and Ghost Max, and Adrenaline GTS combined accounting for 22 percent of total market share, according to third-party data. 

In the U.S., Brooks said Ghost unit sales increased 47 percent in the National Sales channel and 98 percent among Specialty Retailers year-over-year.

Brooks said it also made strides in the trail running footwear category with 11 percent year-over-year revenue growth for the quarter, driven by updates to core styles, including Catamount and Caldera, and the launch of the Catamount Agil.

The company pointed to SFIA’s recent Topline Report, noting that trail running and hiking increased in participation over 2023, with 12.3 percent and 3.1 percent growth, respectively.

April 2024 was Jim Weber’s last month at the helm of Brooks Running as CEO. He retired on April 26 with, what else, a run. Weber was recently inducted into the RIA Running Specialty Hall of Fame, acknowledging his stewardship of the Brooks brand since he took the reins 23 years ago. 

Dan Sheridan, a 2009 SGB 40 Under 40 honoree, assumed the CEO title after serving as company president since 2022 and COO since 2019. Sheridan joined Brooks Running in 1998 and, throughout his career, has been critical in the continued growth of the brand and business. Before his COO role, Sheridan led global sales, e-commerce, business development, and customer service for the company.

Images courtesy Brooks Running/The Pill