Japanese sporting footwear giant Asics on August 12 recorded a 7.4 percent growth in sales to JPY 221 billion (USD 1.59 billion) for the second quarter, on the back of sales growth across its performance running category and all geographic markets excluding Japan.
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The Kobe, Port Island-based company said net sales in Greater China increased 3.4 percent to JPY 28,945 million due to strong sales of Performance Running and foreign exchange effects, despite weak sales of Onitsuka Tiger category.
For the second quarter ending June 30, Asics Oceania net sales increased 17.6 percent to JPY 15,444 million, due to strong sales in all categories except the sports style category, while net sales in the company’s Southeast and South Asia regions increased 73.8 percent to JPY 8,056 million due to strong sales in all categories.
Japan, however, witnessed a 2 percent decline in net sales to JPY 56,503 million, due to weak sales in all categories except the Onitsuka Tiger category.
By category, the company’s performance running net sales exceeded expectations with double-digit year-on-year growth. The impact of logistics disruptions improved during the quarter and net sales increased mainly in Europe, Greater China, and Oceania. Greater China, where there was a lockdown, posted an increase of approximately 35 percent in the second quarter over the same period of the previous year.
Contrastingly, Onitsuka Tiger sales decreased both year-on-year, partly due to the impact of lockdown in Shanghai and other areas. Among them, sales in Southeast and South Asia increased to JPY 3.0 billion (more than double from the previous year), while sales in Japan also increased, the company added. The group’s operating income took a hit, falling by 4.8 percent to EUR 140 million.
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For the year, Asics is currently forecasting sales of JPY 460 billion, compared to a previous forecast of JPY 420 billion, and an operating income of JPY 27 billion, up from the previous estimate of JPY 23 billion.