Dive Brief:
- Brooks Running on Monday reported its ninth consecutive quarter of growth, with revenue increasing 17% year over year in Q3, according to a company press release.
- The running brand attributed the revenue growth in part to the launch of five footwear styles across three footwear categories: cushion, trail and speed.
- Brooks’ North American business saw revenue grow 14% year over year in Q3, according to a company spokesperson. All regions and channels notched double-digit gains in the period.
Dive Insight:
While Brooks isn’t required to disclose the same financial figures as publicly traded companies, its Q3 report indicates the brand continues to grow. Brooks was coming off a second quarter that saw its global revenue increase 19%.
The brand’s upbeat numbers come amid a slowdown in the overall U.S. footwear industry, where total sales were down 1% for the first half of the year and units sold declined by 2%, according to an August report from Circana.
Brooks’ fortunes have continued to grow since Dan Sheridan became CEO last year. He was the brand’s chief operating officer during the pandemic and became president of the company in 2022.
“Our entire global team wakes up every day thinking about the runner – how they move, what they feel, the experience they desire and expect from their Brooks gear,” Sheridan said in a statement. “I am super proud of the way Brooks is executing, even against a backdrop of continued economic impacts and uncertainty.”
Brooks cited growth across both the U.S. and international performance running markets in Q3. The retailer continues to expand its presence globally and last year opened a 1,200-square-foot store in Shanghai. The retailer plans to add 30 locations in China by 2027.
