ASICS Corp. reported that net sales increased 14.9% to ¥65.32 billion ($625.8 mm) for the first quarter ended June 30, up from ¥56.84 billion ($471.2 mm) a year earlier. Net income jumped 22.6% to ¥7.57 billion ($72.6 mm) from ¥6.18 billion ($51.2 mm) last year.
International (meaning non-Japan) sales increased 14.3% to ¥41.65 billion ($399.0 mm) as strength in the Rest of the World bolstered healthy growth in the U.S. and just above flat sales in Europe. Sales to the U.S. totaled ¥14.11 billion ($135.2 mm), up 6.6% from ¥13.24 billion ($109.8 mm) last year. In Europe sales increased 0.6% to ¥20.30 billion ($194.5 mm) from ¥20.18 billion ($167.3 mm) last year, while the Rest of the World saw sales more than double for the first quarter, up 108% to ¥6.31 billion ($60.4 mm) from ¥3.03 billion ($25.1 mm) last year. In the domestic Japanese market, sales jumped 20.6% to ¥24.60 billion ($235.6 mm) from ¥20.39 billion ($169.0 mm) for the year-ago first quarter.
The company saw sales growth in all three of its product categories, though its smallest segment, Equipment, was just above flat. Footwear net sales increased 17.6% for the first quarter to ¥49.61 billion ($475.2 mm) from ¥42.19 billion ($349.7 mm) last year as international growth well outpace domestic. International footwear sales increased 44.7% to ¥12.35 billion ($118.3 mm), while domestic grew 10.7% to ¥37.26 billion ($356.9 mm).
Looking ahead, ASICS expects first half net sales to total ¥125.00 billion with net income of ¥8.40 billion. For the full year, net sales are expected to be ¥257.00 billion with net income of ¥15.20 billion.
