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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 to become a premium brand. Over the past five years, we’ve done exactly that around the globe.”
Since 2020, New Balance has grown sales by a staggering 180%, placing it among a handful of standout competitors that supersized their businesses as Nike changed its business model and lost significant market share.
