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"I think running has a good shot of muddling through this economy with all of the ups and downs we see," he said."Over the last 30 years it's been more or less recession resistant. We saw it in the dot-com bust two decades ago, The Great Recession, even in Covid when retail shut down. People were out there running and our category grew."
Brooks finished 2022 with record revenue of $1.2 billion, up 6% compared to the year prior. Direct-to-consumer sales increased by 16%. , Brooks said the company overcame supply chain obstacles in the first half of the year, which limited inventory available to sell to customers. Brooks was able to better meet demand over the last six months and opened new distribution centers in the US and UK, leading to 26% growth in sales in the fourth quarter.
"The future has never been brighter for performance running," Weber said in a statement."We look forward to introducing more runners to Brooks this year, giving them the premium fit, performance, and experience they desire from their gear." Brooks became the top adult performance running brand in the US in January 2022 and finished the year with 21% market share, the company said, citing NPD data. Its Ghost and Adrenaline GTS held the top two spots in performance footwear styles sold by US retailers. that Brooks is on the road to $4 billion in revenue by 2030. The number is comparable to Nike's wholesale running business in its most recent fiscal year.
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