Asics Q1 sales boosted by running gear demand
Asics reported Japan’s net sales increased 10.2% to ¥40.08m ($0.26m) and North America’s increased 26.5% to ¥33m, both driven by strong sales in the performance running category.
Southeast and South Asia net sales increased 31.8% to ¥9.1m due to strong sales in all categories. Similarly, Greater China saw net sales jump 24.5% to ¥23.8m.
The company's performance running category saw a 12.8% rise in net sales globally to ¥87.9m with profits in this category increasing by 35.8% to ¥22.9m.
The core performance sports category also performed well with a 9.4% increase in sales to ¥24.8m, while the SportStyle and Onitsuka Tiger categories experienced a sale surge of 51.7% and 48.7% respectively.
The apparel and equipment category faced a slight decline with sales dropping by 2.9% to ¥9.3m due to strategic business downsizing in Japan, despite strong performance in the Greater China region.
Key results from Asics Q1
Net sales grew 14.3% to ¥174.1m compared to ¥152.2m in the prior year
Operating income increased 52.9% to ¥33.8m
Net income amounted to ¥26.7m, a 63.9% increase versus 2023.
Gross margin “grew strongly” in all categories, regions and channels by 4.3ppt for the same period last year to 54.5%.
Asics recognised gross margin as an indicator of the level of brand value and said the improvement it has seen is a good start towards its key strategy of “improving brand experience value” in its Mid-Term Plan 2026.
"Asics Q1 sales boosted by running gear demand" was originally created and published by Just Style, a GlobalData owned brand.
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