Asics North America (ANA) is reporting that it posted a sixth consecutive quarter of profit in the third quarter ended September 30. The region reportedly produced a double-digit net sales increase in the period and maintained a nearly double-digit year-to-date (YTD) net sales increase.
As reported by SGB Media last week (see coverage below), consolidated Asics Corporation sales reached ¥183,255 million ($1.2 bn) in the third quarter against ¥158,026 million in the year-ago Q3 period. Operating profits rose 46.6 percent to ¥32,527 million from ¥22,195 million. Net profits grew 46.7 percent to ¥22,721 million from ¥15,484 million.
Third-quarter figures were approximated by subtracting six-month YTD results from nine-month YTD results.
Among key regions, sales in North America reached ¥36,496 million from ¥31,878 million in the third quarter, a gain of 14.5 percent year-over-year. Operating earnings in the region surged 217.3 percent to ¥4,427 million from ¥1,395 million.
The region, comprised of the United States, Canada, and Mexico, said that due to strong partnerships with key regional accounts, its wholesale channel achieved its third consecutive quarter of growth in the United States. The U.S. region generated over 20 percent growth in the third quarter versus the year-ago Q3 period.
“The North American region continues to produce positive growth and momentum in our key areas of focus, including our wholesale, digital and partner channels,” said Koichiro Kodama, president and CEO of Asics North America and managing executive officer at Asics Corporation. “We are fortunate to receive unwavering support from the Asics Global Headquarters team in Kobe, Japan. This allows our regional teams the opportunity to spend more time than ever in the marketplace, hearing feedback directly from our business partners and core consumer base. We are also very pleased with the response to our new product offerings and engaging consumer experiences to support our key partners.”
For the nine-month year-to-date period, North America region net sales increased 18.7 percent to ¥104,244 million due to the strong sales of the Performance Running category and the SportStyle category. Segment profit jumped 486.1 percent to ¥11,141 million, mainly due to an improvement in gross profit and the impact of an increase in net sales.
Wholesale Business Maintains Strong Growth
The ANA team said that the U.S. Wholesale channel continued to be the most significant growth driver for Asics North America in the third quarter. The run specialty trade channel reportedly posted strong double-digit growth in Q3 compared to Q3 of 2023, but the company reported no specific numbers.
Asics said its premium Performance Run products were the primary growth drivers. The Gel-Nimbus footwear line reportedly led the effort with over 20 percent growth in Q3, while the Novablast footwear line produced near triple-digit growth compared to Q3 last year.
The Asics Sportstyle business reportedly delivered triple-digit year-over-year growth in Q3 2024. ANA said in a media release that the Asics brand remains in high demand as vintage tech trends hold steady in the marketplace.
Three Asics Sportstyle models generated triple-digit year-over-year sales growth, led by heritage models, including the Gel-1130 shoe, Gel-2160, and, more recently, the introduction of the Gel-NYC shoe.
Digital and Direct-to-Consumer Strength Builds
The U.S. e-commerce channel reportedly delivered 6.3 percent year-over-year growth in the third quarter, attributed to a combination of premium Performance Run and Sportstyle footwear products; this marked the 12th consecutive quarter of growth for the e-commerce channel.
Further strengthening the Q3 performance for Asics was the brand’s flagship retail store in Manhattan. Located in Manhattan’s Meatpacking District, the store reportedly produced strong double-digit net sales growth and double-digit store traffic compared to the 2023 Q3 period.
Core Performance Sports
Beyond the brand’s Performance Running and Lifestyle products, the Core Performance Sports category, which includes tennis footwear, saw strong double-digit growth in Q3 compared to the year-ago Q3 period, driven by the Gel-Resolution tennis shoe.
Image courtesy Asics Corporation
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