Following a record Q2, Brooks Running continued its winning streak in its most recent quarter.
In the third quarter of 2024, the Seattle-based performance running brand reported that it surpassed $1 billion in global revenue year to date through September, marking the first time the company has hit the major milestone prior to the start of its fourth quarter.
According to Brooks, its Q3 success was driven by growth across all regions and channels, including a 10 percent year-over-year increase in North America, where its e-commerce channel grew 16 percent in the period.
Brooks also drove strong third-quarter results in other regions. The company said Tuesday that revenue grew more than 30 percent in Asia Pacific – Latin America (APLA), while in Europe, Middle East, and Africa (EMEA), Brooks’ momentum resulted in a 10 percent revenue increase fueled by 24 percent direct e-commerce sales growth.
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In the Germany and France, Brooks’ year-over-year growth approximately tripled that of the general performance running footwear market growth in each country. That translated into market share gains of 2.2 points and 1.0 points, respectively, for the quarter, according to Circana data.
“The Brooks team continues to execute at the highest level for customers and runners around the world,” Dan Sheridan, chief executive officer of Brooks Running, said in a statement. “We’ve remained firmly anchored in delivering the very best performance running gear and experiences for those seeking it, regardless of where they choose to shop or engage with our brand. At the same time, every day we aim to meet more people and introduce them to what Brooks is all about so they think of us the next time they’re looking for a product to trust to move them through their days.”
According to data from Circana cited by Brooks, the brand maintained the No. 1 market share in adult performance running footwear at U.S. national retail for the 11th consecutive quarter. And through third quarter of 2024, Brooks held the top spot in the U.S. specialty footwear retail segment.
Brooks also cited that it held half of the top 10 shoe styles at U.S. specialty retail for the fourth consecutive quarter with continued strong demand for its Ghost, Glycerin, Glycerin GTS, Adrenaline GTS, and Ghost Max.4 sneaker models In September, Brooks posted more than 22 percent year-over-year footwear revenue growth in this discerning channel and outpaced the total market, which grew 7.9 percent.
These latest earning results come one month after Brooks celebrated the grand opening of its first branded retail store in the bustling city of Shanghai, two years after its entry into China with a digital-first strategy execution.
“We targeted this location because in addition to being a strong retail outlet, it gives us the opportunity to use it as a running hub for run crews and run clubs after work or on the weekends,” Justin Dempsey-Chiam, Brooks’ general manager of international markets, told FN in an interview in September.
Looking ahead, Brooks plans to open between one and two more stores in China in the first half of 2025, including a second store in Shanghai and one in Beijing.
