03 May Brooks Running Sets Competitive Pace in Q1 with Record Quarterly Revenue
Brooks leads most competitive category in sporting goods, fueled by innovation and strong execution
SEATTLE (May 2, 2024) – Brooks Running achieved record revenue in the first quarter of 2024, up 9% year over year and representing the highest quarterly results in the brand’s history. The performance running brand’s consistent execution of its multichannel strategy and accelerated product innovation pipeline delivered results as inventories remained healthy and the running category experienced global growth. Brooks’ global e-commerce business was up 22% in the first quarter compared to Q1 2023, with 38% year-over-year growth in March alone. Strong North America sales, up 13% relative to Q1 2023, led the brand’s success in the U.S. as Brooks maintained the No. 1 spot in the adult performance running footwear market at U.S. national retail for the ninth consecutive quarter1 and took back the top spot in the U.S. specialty footwear segment in Q1.2
Brooks also gained momentum in key global markets this quarter. In the Asia, Pacific, and Latin America region, first-quarter revenue increased significantly in Australia and China, up 38% and 180% year over year, respectively. The brand’s Europe, Middle East, and Africa business continued to manage well through ongoing retail uncertainty in the region, growing e-commerce 10% year over year.
“Brooks’ runner-first strategy and execution continue to drive success for our brand on a global scale,” said Dan Sheridan, Brooks CEO. “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.”
Brooks’ performance product propelling success across categories
Brooks maintained its pace of innovation across footwear and apparel categories this quarter in what will be a record year for product introduction. In Q1, the brand launched six new footwear styles—contributing to 10% growth in footwear sales year over year.
In February, Brooks launched the latest version of its premium cushion franchise shoe with the introduction of the Glycerin 21 and Glycerin GTS 21, each available in classic fit and StealthFit versions and now featuring DNA LOFT v3 nitrogen-infused foam. Strong Glycerin 21 sales, up 39% compared to Q1 2023 sales of the Glycerin 20, and the style’s popularity in the running category resulted in 3 points of market share gain in March.3 In addition to its success at retail and strong sell-through, the Glycerin 21 was named the Best Women’s Workout Shoe through NBC Select’s 2024 Wellness Awards.
More broadly in the cushion category, Brooks’ 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% of total market share4. In the U.S., Ghost unit sales increased 47% in the National sales channel and 98% among specialty retailers year over year.
Brooks also made strides in the trail running footwear category with 11% year-over-year revenue growth for the quarter, driven by updates to core styles including Catamount and Caldera, in addition to the launch of the Catamount Agil, a brand-new racing shoe built for distances under 50k with vertical climb. According to SFIA’s report, trail running and hiking both increased participation over the last year, with 12.3% and 3.1% growth, respectively.
Tapping into a multidimensional view of wellness
On May 1, Brooks launched a new global brand platform, “Let’s Run There.” The new brand position is designed to continue Brooks’ strong resonance with runners and broaden the conversation with all who are active.
The evolution reflects consumers’ shifting relationships with the category and a multi-dimensional view of health and wellness. In a global health study5, the majority of respondents said mental, physical, and social health are all components of how they approach and define health, while only 1% of respondents noted that they perceived health as physical only.
“We recognized an opportunity to position Brooks at the intersection of running and a holistic version of wellness,” said Melanie Allen, Chief Marketing Officer at Brooks. “At the heart of our brand is a commitment to understanding biomechanics and using that knowledge to create gear that helps people move faster, further, and healthier, because to us, movement is the key to feeling more alive. Let’s Run There is the embodiment of our brand’s purpose and a rallying cry intended to inspire people along their path.”
Let’s Run There builds on Brooks’ existing brand strength around the world, including its recent recognition in Forbes’ 2024 index of “Customer Experience All-Stars” as the No. 1 brand in the apparel, footwear and accessories category and ranked No. 17 overall out of 3,000 brands globally.
Showing up on race day for everyday to elite runners
At the elite level, Brooks professional athletes attained new PRs and achieved peak performances during Q1. Brooks Beast Josh Kerr broke the 2-mile indoor World Record at the Millrose Games in February and secured the 3000m championship title at the World Athletics Indoor Championships in Glasgow. Five Brooks athletes, all competing in the Hyperion Elite 4 carbon-plate performance racing shoe, finished among the top 20 among men and women at the U.S. Olympic Marathon trials in Orlando. At this year’s Boston Marathon, CJ Albertson was the top American finisher in the men’s race, placing seventh overall. This June, the Brooks Beasts are set to compete for spots on the U.S. Olympic track and field team, including top contenders Nia Akins, Isaiah Harris, Henry Wynne, and Brandon Miller, as well as Brooks’ NIL-sponsored athlete Shawnti Jackson. In addition to its current roster of top performers, Brooks continues to attract elite athletes to the brand, signing marathoner and U.S. Olympic Marathon women’s team alternate Jess McClain and 2023 Top 10 Western States trail athlete Cole Watson.
Recently released reports show Brooks winning with road racers of all speeds as one of the top footwear brands worn on course at major long-distance events including the New York City Marathon, where Brooks was No. 1 among women and No. 2 overall, and Houston Half Marathon, where Brooks was No. 1 across all genders.
Leading the run for all and protecting the planet we run on
Brooks recently released its annual Running Responsibly report, highlighting the brand’s progress against its People and Planet corporate responsibility commitments. In 2023, Brooks invested more than $6 million in community impact programs, including the launch of its Future Run youth running initiative and partnership with weekly free global community event program parkrun. For the fourth consecutive year, Brooks was recognized as an Equality 100 Leader in LGBTQ+ Workplace Inclusion by the Human Rights Campaign Foundation’s Corporate Equality Index. Brooks made significant progress on moving deeper into the supply chain to fully trace 90% of in-scope raw materials on its largest volume product, the Ghost franchise. Brooks also launched its most sustainable shoe to date, the Green Silence Ghost 15, made with 39% recycled materials, the most recycled material by weight out of any shoe in Brooks’ line, and featuring dope dyed textiles using methods that reduced water usage by 94% and greenhouse gas emissions by 92% compared to traditional dyeing methods.
In February, Brooks launched the Brooks x Damon Brown Collection in partnership with Seattle-based multidisciplinary artist Damon Brown, aka Creative Lou, as part of Brooks’ Artist Series to create gear with and for underrepresented communities within running. The overarching series’ goal is to explore the intersection of identity and running via limited-edition products featuring custom art. The Damon Brown Collection celebrates Black runners and the spaces they’ve created for themselves in America and launched exclusively at Black-owned specialty running stores ahead of its widespread launch across sales channels.
About Brooks Running
Brooks Running creates market-leading performance running footwear, apparel, sports bras, and accessories distributed worldwide. Brooks exists to inspire everyone to run and be active, through innovative gear, tools, and experiences designed to take you to the place that makes you feel more alive. Since 1914, Brooks has been propelled by a never-ending curiosity with how humans move, pushing the limits of motion science, engineering, and technology to create gear that unlocks the power of energy and movement for everyone. Brooks is a subsidiary of Berkshire Hathaway Inc. and is headquartered in Seattle, Washington. Visit www.brooksrunning.com for more information or follow @brooksrunning.
1 Circana/Retail Tracking Service, U.S. dollar sales, January – March 2024
2 Upper Quadrant Specialty Run Market Data
3 Upper Quadrant Specialty Run Market Data
4 Upper Quadrant Specialty Run Market Data
5 2023 Edelman Trust Barometer Special Report: Trust & Health