New Balance Continues Strong Growth in Sales at Licensed Stores
October 5th 2011
Boston, MA -
New Balance announced today that its U.S. licensed stores have seen increased year over year sales for the past 12 straight months, including very strong comparative sales growth in the past 3 months: June: 7.2%, July: 3.5%, Aug: 6.4%, and forecasted continued growth through September. To date, overall licensed store sales have grown +5.7% in 2011.
"A major part of this success is directly related to our thought leader partners who own and manage the New Balance stores. They are the ones on the front line making it happen and driving the consumer experience," says Chris Quinn, executive vice president, sales and retail for New Balance.
Also, contributing to this strong performance is the continued success of New Balance's "Let's Make Excellent Happen" brand campaign, designed to motivate and inspire active consumers to reach a new level of personal performance – a new level of "Excellent," as well as the strength of key running initiatives, including the launch of REVlite, a lightweight cushioning foam featured in the 890 running shoe, the NB Minimus collection and core running styles which can be replenished quickly because they are manufactured domestically.
"Our early read for September is also very positive. We have also seen similar strength in sales of running product at our independent specialty accounts and bookings for running product in the specialty channel for the first quarter of 2012 are up 22 percent," says Stephanie Smith, vice president of retail for New Balance.
New Balance expects to grow by more than 15% globally this year and become a $2 billion company by 2012. "Our brand strength has resulted in plans to open more than 15 new licensed stores in North American next year, many by current owners and partners reinvesting in the brand," says Smith. All 157 licensed New Balance stores in North America (140 in the U.S.) are independently owned and operated.
About New Balance
New Balance, headquartered in Boston, MA has the following mission: Demonstrating responsible leadership, we build global brands that athletes are proud to wear, associates are proud to create and communities are proud to host. New Balance is currently the only athletic shoe company that manufactures footwear in the U.S. with 25% of our North American footwear shipments produced at five New England facilities. The company also operates a manufacturing facility in Flimby, U.K. New Balance employs more than 4000 associates around the globe, and in 2010 reported worldwide sales of $1.78 billion. For more information, please visit https://www.newbalance.com.