Why New Balance's ‘dad shoes' are beating Nike as sales surge 19% [CNBC]
Nike, Inc. (NKE)
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Source: CNBC
CEO Joe Preston attributed New Balance's success to being focused on the consumer, regardless of how, where and when they want to shop. New Balance could reach $10 billion in annual sales by the end of the year. In this article New Balance sales grew 19% last year to $9.2 billion as the legacy sneaker giant continued to outperform the global footwear market and take share from floundering competitors like Nike The 120-year-old Boston-based footwear brand , which is private, exclusively shared its 2025 results with CNBC. In addition to the sharp 2025 growth, the retailer said it could reach its goal of $10 billion in annual revenue by the end of the year. “We're competitive. No question about it. But we want to make sure that as we get there and surpass it, that the quality of our business is first and foremost,” CEO Joe Preston told CNBC in an interview. “We don't want empty calories here. We want to make sure that we are delivering upon the premise that we have, which is t
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