Brooks Running Company reported an 11 percent increase in third-quarter revenue year over year, led by a 14-percent increase in global footwear sales.
Success of the company’s footwear business in the third quarter was driven by demand for the Ghost and Adrenaline GTS, which grew 39 percent and 30 percent respectively, as well as early success of the Brooks Levitate with DNA AMP, a new shoe that focuses on energy return. In addition to increased demand, both the Brooks Ghost and Adrenaline GTS received awards from Runner’s World in the third quarter. The Brooks Ghost 10 received Editor’s Choice and the Adrenaline GTS 18 received Outdoor Retailer Editor’s Choice.
“We’re extremely excited about the return to growth we’ve driven across the business because it shows us our products are resonating,” said Dan Sheridan, executive vice president, general manager of global sales for Brooks. “The Brooks Levitate with DNA AMP is the most successful new product launch we’ve had in years. Combined with increasing demand for franchise models like the Ghost and Adrenaline GTS, Brooks is in a strong position to be the No. 1 choice for runners worldwide.”
Despite a constantly changing marketplace, the performance running category is showing signs of stabilizing and Brooks is standing strong within the category. According to point-of-sale data, Brooks grew its total U.S. adult running footwear market dollar share to 3.7 percent year to date through September 2017. Over the same period, the company also gained 1.5 share points in the $100 and above (average selling price) segment of the adult running footwear category, making it the No. 3 brand with 7.8 percent dollar share.
Brooks remains committed to its specialty running retail partners and in 2017 launched two programs – Locally and Fast Track – to reinvigorate the channel. Acting as a one-stop-shop for retailers to manage orders, check inventory and drop-ship directly to customers, Fast Track empowers retail partners to offer customers a full array of products without the burden of bringing excess inventory into their stores. Through its partnership with locally.com, Brooks connects retailers’ inventories with the company’s website so consumers can go to BrooksRunning.com and find a local retail store that carries their desired gear at that very moment. Brooks maintained its No. 1 market share position in the Run Specialty channel with 25 percent unit share of performance running footwear (excluding sports-lifestyle) for the last 12 months ending August 2017.
“We’ve never experienced a more dynamic time in the marketplace and we’re working harder than ever to build and deliver the best gear in the world for all who run,” said Brooks CEO Jim Weber. “Despite uneven retail conditions, we continue to invest in future growth in run, including bringing the best talent to the Brooks team.”
To this end, Brooks added horsepower to its executive team in the third quarter. Melanie Allen joined Brooks as senior vice president, chief marketing officer. Prior to Brooks, Allen served as vice president of global coffee innovation at Starbucks Coffee Company and held a series of leadership roles in marketing, product, and engineering at Procter & Gamble and 3M. In her new role, Allen will lead Brooks’ global marketing strategy and develop campaigns that bring to life the inspiration inherent in the transformative power of the run, Brooks product stories and our unique technology and design solutions. Allen will work collectively with Brooks’ CEO and executive team to shape and refine Brooks’ go-to-market game plan in pursuit of becoming the performance brand of choice for all who run.
Photo courtesy Brooks
