(BRK.A), (BRK.B)
Brooks Running, owned by Berkshire Hathaway, surpassed $1 billion in global revenue through September, marking a significant milestone achieved even before the start of its fourth quarter.
This growth reflects the brand’s expanding market presence across all regions and channels, with North America seeing a notable 10% year-over-year increase and e-commerce up by 16%. Brooks held the No. 1 spot in adult performance running footwear at U.S. national retail for the 11th straight quarter and led in U.S. specialty footwear retail through the third quarter of 2024.
Internationally, Brooks saw over 30% revenue growth in the Asia Pacific-Latin America region (APLA) and a 10% increase in Europe, the Middle East, and Africa (EMEA), driven by a 24% boost in e-commerce sales. In Germany and France, Brooks’ growth significantly outpaced the general performance running market, gaining 2.2 and 1.0 market share points, respectively.
Brooks CEO Dan Sheridan attributes this success to the company’s focus on delivering top-notch performance gear and customer experiences. “Every day, we aim to meet more people and introduce them to what Brooks is all about,” he said, noting the brand’s dedication to ensuring its products are the top choice for runners worldwide.
© 2024 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.