Glasses on the run Newsletter #63
Hi,
After a longer than usual break, we are back with the first edition of 2025. I hope you are having a good start of the year.
What was interesting in the business of running
Starting with Nike - as it has been widely reported, the company is facing serious challenges. Here is a good overview of what caused its current issues and why the comeback will take time (CNBC).
Meanwhile Adidas launched a partnership with Mercedes in Formula 1 (Planet F1, Adidas), while Puma introduced an apparel collection with another Formula 1 leader - Ferrari (Puma).
Both companies also announced cost cutting initiatives. Adidas plans to cut 500 jobs in its headquarters in Herzogenaurach, Germany in order to simplify its operations. That is 9% of its workforce in that location (NBC News). Puma missed its targeted profit margin for 2024 and as a result also announced a cost cutting initiative, but apparently not planning layoffs (Reuters).
New Balance however is doing really well and its revenues hit $7.8 billion in 2024 - a 20% increase compared to 2023 (Yahoo Finance, Retail Brew). It has been growing rapidly with record revenues year after year. Just two years ago, its revenues were $5.3 billion for the fiscal 2022 year (CNBC).
Another major brand - Brooks - is following up on the plans announced by new CEO Dan Sheridan to re-enter the lifestyle market (Footwear News).
Fitbit to pay a $12 million civil penalty for not reporting quickly enough overheating batteries in watches that burned their users (The New York Times).
And finally some practical advice:
- First, A comprehensive set of advice for running in the winter (National Geographic),
- a comparison between Coros Pace Pro and Garmin Forerunner 265 (Lifehacker),
- and a rundown of the 2025 racing super shoes (Run by Outside Online).
As always, thank you for reading,
Momchil
