Asics Corp. reported sales rose 50.6 percent in the North America region in the first six months, to ¥42,797 million from ¥28,414 million. Operating income came to ¥1,944 million against a loss of ¥2,134 million, according to Asics’ financial statement.
Extrapolating first-quarter results from six-month results showed North America sales in the second quarter rose 88.1 percent to ¥23,977 million from ¥12,748 million a year ago. Operating earnings came to ¥1,471 in the quarter against a loss of ¥1,105 million a year ago.
In a separate statement, Asics North America (ANA), which includes the United States, Canada and Mexico, noted that it continued to see strong growth from nearly every channel across the region. Collectively, the North America region experienced a double-digit quarterly sales increase year-over-year.
“We are proud to continue seeing the Asics brand and products resonating so well with consumers across categories from running to tennis,” said Richard Sullivan, president and COO of Asics North America. “The growth across our owned and partner channels has been significant, and we will continue to strategically navigate our brand going forward.”
Specifically in the United States, Asics showed quarterly double-digit year-over-year increases from the Run Specialty, Strategic Partners and Sporting Goods channels and a quarterly triple-digit year-over-year rebound in the Family channel.
Asics’ performance run category grew by 51.8 percent in the United States year-over-year for the region buoyed by the success of the Gel-Kayano and Gel-Nimbus.
From a core performance sports standpoint, the brand saw tennis grow at triple-digits year-over-year, specifically, the Gel-Resolution shoe which was the number one selling tennis style.
Asics North America also noted that seven of its ambassador athletes qualified for their national teams and earned the opportunity to compete in the Tokyo Olympics.
- Representing the United States, Valarie Allman, took Gold in the discus throw; Adeline Gray won Silver in women’s wrestling;
- Flora Duffy, representing Bermuda, won Gold in the women’s triathlon, the first Gold medal for the country; and
- Leylah Fernandez and Sharon Fichman (tennis) were joined by Amelie Kretz (triathlete ) in representing Canada.
Companywide, Asics’ sales reached ¥209,478 million in the six months against ¥146,897 million a year ago, a gain of 42.6 percent. The gains were driven by the Performance Running category and the Onitsuka Tiger category.
Operating income came to ¥23,993 million against a loss of ¥3,873 million due to an improvement in its gross profit ratio, and an increase in net sales. Net income was ¥12,350 million compared with a loss of ¥6,266 million.
Extrapolating first-quarter results from six-month results shows sales in the second quarter rose 88.1 percent to ¥102,929 million from ¥61,556 million a year ago. Operating earnings came to ¥9,389 million in the quarter against a loss of ¥2,991 million a year ago. Net income came to ¥1,865 million compared with ¥6,023 million a year ago.
In its other three major markets in the six months:
- Japan’s sales improved 23.0 percent to ¥57,795 million from ¥47,004 million. Operating earnings came to ¥3,484 million against a loss of ¥1,509 million.
- Europe, sales jumped 55.9 percent to ¥57,833 million from ¥37,094 million. Operating income surged to ¥9,167 million from earnings of ¥737 million a year ago.
- Greater China’s sales rose 51.1 percent to ¥27,990 million from ¥18,525 million. Operating income climbed to ¥6,147 million from ¥2,133 million.
In the six months, e-commerce sales increased by 49 percent in Japan, 19 percent in North America, 57 percent in Europe, and 36 percent on the consolidated level.
By category in the six months:
- Performance Running sales increased 54.2 percent to ¥108,594 million due to strong sales mainly in Japan, North
America, Europe, Greater China, and Oceania regions. Category profit increased 165.5 percent to ¥26,234 million due to an improvement in the gross profit ratio and the increase in net sales.
- Net sales in Core Performance Sports increased 44.4 percent to ¥23,428 million due to strong sales in Japan, North America and Europe regions. Category profit increased 400.4 percent to ¥4,532 million.
- Sports Style sales increased 36.3 percent to ¥17,127 million due to strong sales in North America and Europe regions. Category profit increased 839.6 percent to ¥2,967 million.
- Apparel and Equipment sales increased 30.5 percent to ¥16,702 million. Category profit returned profitable to ¥219 million.
- Onitsuka Tiger sales increased 34.0 percent to ¥21,007 million due to strong sales in the Greater China regions. Category profit increased 98.0 percent to ¥4,064 million.
The updated outlook for the full year calls for sales to reach ¥395,000 million, operating income to reach ¥14,500 million and net income to reach ¥2,500 million. Previously, sales were expected in the range of ¥385,000 to ¥395,000 million, operating income in the range of ¥11,500 to ¥13,500 million and net income in the range of ¥2,000 to ¥3,500 million.
In 2020, sales were ¥328,784 million, operating income was a loss of ¥3,953 million and the net loss was ¥16,126 million.
Photo courtesy Asics