Asics witness 42.6% rise in second-quarter sales

Asics served as the official sportswear sponsor for the Tokyo Olympics and Paralympic teams.

Asics reported second-quarter earnings on Friday, with sales up 42.6% to $1.9 billion and North American net sales rise 51%.

For the first time in four years, sales exceeded $1.8 billion, with an increase of more than 50% year-over-year across all regions. For the first time in six years, operating income exceeded $182 million.

Net sales boosted gross profit by 49.4% to ¥105,448 million (US$965.56 million). In the operating income ¥23,993 million (US$219.73 million) was generated as a result of an improvement in gross profit ratio and higher net sales. There was an average income of ¥24,770 million (US$226.81 million).

Performance Running net sales increased 54.2 per cent to ¥108,594 million (US$994.37 million) due to strong sales in Japan, North America, Europe, Greater China, and Oceania, according to Asics’ latest financial report. As a result of strong sales in North America and Europe, Sports Style’s net sales increased 36.3% to ¥17,127 million (US$156.83 million). Its net sales increased 30.5% to ¥16,702 million (US$152.94 million), a 30.5% increase. A strong performance in Greater China drove Onitsuka Tiger’s net sales up 34.0% to ¥21,007 million (US$192.36 million).

As a result of the pandemic, operations in Oceania and South America were temporarily suspended. In addition, due to the shutdown of a factory in Vietnam, and temporary retail store closures, e-commerce sales still increased by more than 30%.

Additionally, Asics, which makes footwear used in sports such as tennis and wrestling as well as jogging, scored several victories during the quarter.

No. 1 tennis player and Asics ambassador Novak Djokovic, won the French Open in June while wearing Asics shoes. Earlier this year, Djokovic announced that he would be extending his partnership with the brand.

As well as being a Tokyo 2020 Gold Partner, the Japan-based company served as the official sportswear sponsor for the Tokyo Olympic and Paralympic team.

As of 2028, the global sports footwear market is expected to grow from $97.42 billion in 2021 to $134.99 billion.

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