Brooks Running CEO Reveals the Secrets to Winning In the Digital Retail World
Brooks Running is fresh off a good quarter on the back of people clamoring for running sneakers. CEO James Weber doesn't' see the momentum ending anytime soon.
Third quarter sales for the Berkshire Hathaway (BRK.A) (BRK.B) owned footwear brand spiked 14% from the prior year. Brooks saw a good bit of success with two new offerings in the Ghost and Adrenaline GTS, which grew sales by 39% and 30% respectively. Despite challenges in the performance footwear category, Brooks maintained its number one market share in running specialty accounts for the twelve-months ended June 2017 according to NPD Group.
Considering the competition from Nike (NKE) , Under Armour (UA) and Adidas (ADDYY) the results aren't too shabby. Brooks Running CEO James Weber said the brand is winning with running enthusiasts. It also doesn't hurt to be under the Berkshire umbrella, Weber said, as he and his team could think longer term.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
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