Business news : Brooks Sees 21 Percent YTD Growth

Brooks Running Company, a division of Berkshire Hathaway, reported revenues grew 21 percent in total global sales growth year-to-date. Net domestic revenue rose 19 percent while the total international business clocked in 29 percent revenue growth though June 30. Europe drove above-average sales growth with a 34 percent increase year-to-date in local currency.

In addition, Brooks continued its stronghold on the No. 1 market share position at specialty running account stores (SRAs) nationwide, growing to 29 percent total share. Its U.S. footwear backlogs rose 24 percent and U.S. at-once orders climbed 21 percent year-to-date, an indicator of retail sell-through.

Brooks apparel also delivered growth with 20 percent gains year-to-date. The No. 2 apparel brand at SRAs, Brooks earned the most market share year-to-date.

"Brooks is off to a fantastic start in 2013, driven by strong product and a Run Happy call to action that resonates with runners, complemented by the overall strength of the running lifestyle,” says Jim Weber, CEO, Brooks Running Company. "We look forward to the second half of the year during which we’ll give runners new product innovation coupled with exciting research findings we believe will change the way we design, build, and market running footwear for years to come.”

Brooks indicated that the the growth reflected big gains in three key styles in the neutral and guidance categories. Sales of the Ravenna 4, Ghost 6 and Glycerin 11 grew by 56, 55 and 58 percent year-to-date, respectively. In lightweight, Brooks grew its retail dollar market share at SRAs by four percent to 39 percent year-to-date, maintaining its No. 1 spot.

Brooks’ footwear collection gained further traction with editors and wear testers, the ultimate arbiters of footwear quality, earning several awards in 2013, including:

·         Best Trail Shoe Award from Women’s Health for the Cascadia 8
·         Best Buy Award from Runner’s World for the Ravenna 4
·         Best Update Award from Runner’s World for the PureGrit 2
·         Editor’s Choice Award from Runner’s World for the Cascadia 8
·         Best Buy Award from Runner’s World for the PureConnect 2
·         Editor’s Choice Award from Runner’s World for the Ghost 6

Beyond sales and market share growth, Brooks said it continues to spread the Run Happy spirit and create opportunity for runners to connect and build community. In July, Brooks announced a multi-year partnership with fitness tracking company MapMyFitness and its MapMyRun mobile app. On top of tracking running progress, the app’s Brooks Run Happy Group connects runners to local events, SRAs, and other runners. At launch, more than 300 SRAs from across the U.S. created local groups, further bringing runners together to connect and share.
 
By press release through sportsOnesource