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Brooks Running

also referred to as: brooks

33 statements across 4 episodes · 21 bullish · 0 bearish · 3 people on the record · first statement Apr 6, 2022 by David Rosenthal · said 47 times in 6 episodes since 2022 · across every show →

Mentions by year

brought up most by Ben Gilbert (30), Jim Weber (14), David Rosenthal (3)

tap a year for its mentions
002535062022episodesmentions
0362022episodes it came up in
0043862022episodesmentions per episode
2022 47 mentions in 6 episodes 8 per episode

every mention, scene by scene, with the transcript →

Everything said about Brooks Running, oldest first

Apr 6, 2022 positive
Assertion Supported
Brooks Running Grew From Millions to Over $1B Revenue Under Jim Weber
“What they went from under Jim, they went from like de minimis small number of millions of revenue to over a billion in revenue a year competing with Nike and Adidas.”
David Rosenthal Apr 6, 2022 ▶ 1:00 Platforms and Power (with Hamilton Helmer and Chenyi Shi) · Acquired
May 16, 2022 positive
Insight
Weber: Real Footwear Revenue Is in Daily Trainers, Not Racing Shoes
“I think we were the first one to identify that the real business was in trainers. It wasn't in racing shoes. It wasn't in spikes. It wasn't in marathon racing shoes. The business is in the trainers.”
Jim Weber May 16, 2022 ▶ 22:21 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022 positive
Assertion Not checkable as stated
Weber: College Runners Often Race in Major Brands, But Train in Brooks
“A lot of the college athletes that race in the big brands, Train in Brooks. Every day.”
Jim Weber May 16, 2022 ▶ 22:36 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022 bullish
Prediction Open · timeframe May 2032
Weber: Brooks targets 60M unique customers and $4B revenue in 10 years
“So we see an opportunity for sixty million customers, Sixty million uniques up from maybe fifteen million today, four bagger, and four billion in revenue.”
Jim Weber May 16, 2022 ▶ 1:02:29 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022
Insight
Weber: Companies with Issues Get Sold, While Opportunities Attract Investors
“The pitch I made to our team, and it's what I believed, is that companies with issues get sold. Companies with the opportunity attract investors.”
Jim Weber May 16, 2022 ▶ 15:38 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022
Disclosure
Weber: Brooks Running's average selling price is $130 per pair
“130 bucks.”
Jim Weber May 16, 2022 ▶ 18:28 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022 positive
Assertion Not checkable as stated
Weber: Brooks digital sales rose to 80%, driving record May 2020 revenue
“Digital went from 30% of all of our products going through a website of somebody's, ours or another partner's, it went to 80% by the end of April, and in May, we sold more in May 2020, almost all through digital than we did in May 19.”
Jim Weber May 16, 2022 ▶ 52:02 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022 positive
Assertion Supported
Weber: Brooks Running Has Not Needed Outside Capital Since 2001
“We haven't needed a dollar of capital since 2001.”
Jim Weber May 16, 2022 ▶ 16:43 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022 neutral
Disclosure
Weber: Buffett Blocked Running App Acquisitions Due to Lack of EBITDA
“So I wanted to buy every one of those and Warren wanted me to do the multiple on EBITDA and there was no EBITDA. So let's just say it's hard to do acquisitions.”
Jim Weber May 16, 2022 ▶ 58:01 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022 neutral
Assertion Not checkable as stated
Weber: 45% of Brooks factories shut for 3 months during 2021 Vietnam lockdowns
“45% of my factories didn't make a shoe for three months. So I, we grew 20, ah, 30, 31% last year. We are up 43% coming into that, that, that, you know, product issue”
Jim Weber May 16, 2022 ▶ 1:03:55 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022
Insight
Weber: Beginner Runners Need Premium Footwear More Than Elite Athletes
“But what's interesting at our sport, the person that really needs the best footwear and the best Run bra and all of that are the people that are just beginning. Because the injury potential for those people is really high.”
Jim Weber May 16, 2022 ▶ 27:36 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022 positive
Assertion Partly supported
Weber: Brooks Running reached $1.13 billion in revenue in 2021
“1.13 billion.”
Jim Weber May 16, 2022 ▶ 53:53 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022 positive
Assertion Not checkable as stated
Weber: Brooks generated $10M in cash during his first nine months
“And we generated ten million of cash that first nine months. That's how much we shrunk the balance sheet with focus.”
Jim Weber May 16, 2022 ▶ 32:38 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022 bullish
Assertion Not publicly verifiable
Weber: Brooks Was #1 in Houston Half Marathon, #2 Behind Nike Overall
“So Houston Marathon, 8006 thousand marathoners, 12,000 halves. Number one shoe in the half, Brooks. Number two shoe in the full. There's a little brand down in Portland, Oregon. They were number one. But we are on their heels.”
Jim Weber May 16, 2022 ▶ 19:18 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022
Insight
Brooks CEO: Running business is everyday wellness, not elite competition
“The sport is the soul of running, right? Track and field, cross country, road racing, the Olympics, now trail and ultra, but the business is people that are investing in themselves, fitness and health and wellness.”
Jim Weber May 16, 2022 ▶ 23:07 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022 bullish
Assertion Partly supported
Weber: Brooks Running tripled its business between 2009 and 2014
“Oh, eight, oh, nine, just as that was going on, you know, obviously great recession. We tripled the business. From 2009 to 20 14.”
Jim Weber May 16, 2022 ▶ 39:49 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022 positive
Assertion Not checkable as stated
Weber: Brooks Averaged Over 50% Return on Tangible Net Assets
“Our return on tangible net assets has been over Over 50% for the last 15 years.”
Jim Weber May 16, 2022 ▶ 16:58 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022
Assertion Not checkable as stated
Brooks CEO: Big 5 made up $10M of Brooks' $60M revenue
“We were doing ten million of sixty million of revenue with them at 30 dollar shoes. My first meeting with them is we love Brooks. We see a great future for you.”
Jim Weber May 16, 2022 ▶ 21:23 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022 positive
Assertion Not checkable as stated
Weber: Brooks turned its supply chain back on 6-12 weeks before competitors
“We turned our supply chain on at least six to 12 weeks before anybody else did.”
Jim Weber May 16, 2022 ▶ 52:52 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022 positive
Assertion Not publicly verifiable
Weber: Brooks is number one brand at REI and Dick's Sporting Goods
“Obviously, you know, some of the better sporting goods players and outdoor from REI to Dick's Sporting Goods. We're their number one brand.”
Jim Weber May 16, 2022 ▶ 55:26 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022 neutral
Assertion Not checkable as stated
Weber: 90% of Brooks Running products were sold via retail before COVID-19
“90% of our products went through a retailer.”
Jim Weber May 16, 2022 ▶ 50:16 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022 bullish
Assertion Supported
Weber: Brooks reached number one US running shoe position with 21.5% share
“We became the number one running shoe brand in the United States in the last 12 months, last month. 21 and a half percent share in performance running.”
Jim Weber May 16, 2022 ▶ 59:34 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022 positive
Assertion Supported
Gilbert: Warren Buffett Made Brooks a Direct Berkshire Hathaway Report
“So, along the way, Brooks was acquired by Berkshire Hathaway, and Warren Buffett personally elevated Brooks and Jim to make the company a direct report to him.”
Ben Gilbert May 16, 2022 ▶ 6:28 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022 positive
Disclosure
Weber: Brooks Running directs all marketing spend exclusively to runners
“If you're not a runner, We haven't marketed to you. I mean, we are so focused. Every nickel has gone to people that are putting one foot in front of another”
Jim Weber May 16, 2022 ▶ 8:42 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022 neutral
Assertion Not checkable as stated
Weber: Bringing one shoe style to market costs $500K to $1M
“Takes a half a million to a million bucks to bring one style to market.”
Jim Weber May 16, 2022 ▶ 34:23 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022 positive
Assertion Not checkable as stated
Weber: Women have driven running growth since the mid-1990s
“I mean, we doubled the business, and women have driven this sport since the mid nineties.”
Jim Weber May 16, 2022 ▶ 27:02 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022 bullish
Assertion Supported
Brooks CEO: Ghost and Adrenaline are top two US performance running shoes
“We have two of the best selling shoes now in the United States, the Ghost and the Adrenaline. They're the two top shoes in the performance running category.”
Jim Weber May 16, 2022 ▶ 21:06 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022
Assertion Partly supported
Gilbert: Brooks Faced $30M Debt and Near-Payroll Failure in 2002
“So when the CEO, Jim Weber, took the helm in 2002, the company was losing five million dollars a year, it was thirty million dollars in debt, it was a week away from missing payroll, and the board was like having weekly meetings to figure out how to make Payro…”
Ben Gilbert May 16, 2022 ▶ 5:18 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022 positive
Assertion Not checkable as stated
Jim Weber: Industry Thought Brooks Would Fail by Focusing Solely on Running
“And so, but when we made the decision to burn the boats on everything, but performance running, the industry had never seen that before. And most people thought we were crazy that we wouldn't survive.”
Jim Weber May 16, 2022 ▶ 13:55 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
May 16, 2022 neutral
Assertion Supported
Weber: Track Officials Ejected Brooks Execs From 2012 Olympic Trials
“They kicked me out, our head of marketing, and our head of sports marketing.”
Jim Weber May 16, 2022 ▶ 48:51 Arena Show Part II: Brooks Running (with CEO Jim Weber) · Acquired
Jun 20, 2022 positive
Assertion Contradicted
Rosenthal: Brooks Running compounded 30% to 40% annually for 20 years
“They've been growing at 30 to 40% a year for like the last 20 years.”
David Rosenthal Jun 20, 2022 ▶ 53:10 The Playbook: Lessons from 200+ Company Stories · Acquired
Jun 20, 2022 bullish
Assertion Partly supported
Gilbert: Brooks Running reached nearly $1.2 billion in revenue in 2021
“Last year they did close to 1.2 billion and had a great year last year through the pandemic and are continuing to ride this wave of running, becoming one of the largest and fastest growing athletic apparel opportunities in the world.”
Ben Gilbert Jun 20, 2022 ▶ 52:53 The Playbook: Lessons from 200+ Company Stories · Acquired
Jul 25, 2023 neutral
Assertion Supported
Brooks, On, and Hoka Reached Billion-Dollar Run Rates by 2023
“You've got Brooks, On, and Hoka all becoming billion dollar revenue run rate companies in the last 18 months.”
Ben Gilbert Jul 25, 2023 ▶ 3:52:53 Nike (Audio) · Acquired
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