Brooks Set to Hit Another Sales Milestone
Berkshire Hathaway-owned Brooks, on a rolling 12-month basis, is projected to hit $1 billion in aggregate annual sales from its wholesale channel and website this month, CEO Jim Weber told Barron’s last week ahead of the parent company’s virtual annual meeting from Los Angeles on May 1. Weber also told the publication that the brand added two million new runners in 2020 while surpassing Nike as the top women’s running brand on 27 percent topline growth during the pandemic-impacted year. Brooks is aiming to add 4-5 million more runners this year. Brooks, which saw 80 percent of revenues generated online during the height of COVID-19 and widespread retail closures, estimates the current online penetration at 39 percent with 60 percent generated by traditional brick-and-mortar.
“We don’t think retail stores are going to go away,” the CEO told the publication. “The runner wants to make sure they find the right shoe and fit for them, and the best retailers curate the best running shoes in the marketplace.”