Despite a struggling economy, Brooks Running posted positive numbers in the first quarter of 2023.
The company saw 20% overall revenue growth year-over-year and ranked first in the U.S. in the “adult performance running footwear” category with 23% of the entire market.
“In the face of continued uncertainty in the global consumer marketplace, the premium running category remains a bright spot, as getting outdoors and moving is a positive force in people’s lives,” CEO Jim Weber said.
The athleticwear brand also saw success in overseas markets: Revenue increased 30% in Europe, Africa, and the Middle East.
The numbers appear to suggest that the brand’s growth can continue. Brooks Running brought in $1.2 billion in revenue last year — up 6% from 2021.
Investing In Runners
As part of its earnings release, Brooks noted that several of its sponsored athletes enjoyed success at the 2023 Boston Marathon — a total of 10 across the men’s, women’s, and para-athletic elite races.
Brooks also noted that it has invested significant sums in a youth running program called “Future Run” that has drawn more than 320,000 participants.
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