Asics America Group (AAG), which includes the U.S., Canada, Mexico and Brazil, reported sales rose 1.8 percent in the first quarter and expanded 5.0 percent on a currency-neutral basis. Asics America Corp. (U.S. only) led the gains, registering a 6.9 percent increase in net sales on a currency-neutral basis.
The two main revenue drivers in the region were in the footwear category were Running Footwear and the Asics Tiger lifestyle footwear brand. The lifestyle business was led by the reintroduction of the Gel-Lyte III that was popular in the 1980s to around 1990. Highlights on the performance running side included the Asics GEL-Nimbus 17, the Natural 33 performance footwear collection featuring AmpliFoam technology, and the 2015 Asics LA Marathon 33-DFA shoe.
Asics America Corp. also saw “expansive growth” across Apparel and Accessories categories. Athletic Sports Apparel vaulted 49.7 percent overall, led by running apparel, which increased 70.7 percent. Accessories were up 26.2 percent.
Another standout was tennis. Tennis footwear surged 73 percent, led by the popularity of the GEL-Resolution 6, while tennis apparel ran up 70.9 percent.
“We have seen significant traction in running apparel, performance tennis and Asics Tiger footwear,” said Asics America Group President and CEO, Kevin Wulff, in a statement. “These numbers bode well for the rest of 2015 and are a solid starting point coming out of the winter months. We are excited about our new product launches still to come this year and, as always, remain focused on providing cutting-edge, superior performance products to our loyal customers.”
Companywide, Asics Corp. reported revenues of ¥117.4 billion ($1.1 bn), operating income reached ¥15.4 billion ($149.7 mm) and net income was ¥8.5 billion ($83.9 mm.)
Asics said year-ago comparisons aren’t available because the company changed the way it reports consolidated subsidiaries to improve the timely and accurate disclosure of corporate information on a global basis. The changes resulted in irregular settlement periods in the prior year.
Among it major regions, Japan’s sales reached ¥38.0 billion ($369.5 mm) in the first quarter with segment operating income at ¥2.45 billion ($23.9 mm). America’s revenues reached ¥34.3 billion ($333.7 mm) and the region’s operating income reached ¥3.0 billion ($28.9 mm). Europe area sales were ¥31.7 billion ($307.7 mm) and segment income was ¥4.2 billion ($50.0 mm).
Asics didn’t change its forecasts for the full year. It projects 2015 revenues of ¥423 billion, operating income of ¥33 billion, and net income of ¥21 billion.
