Asics eyes record profit after strong first half

The company’s second-quarter net sales jumped 21.8 per cent year on year to US$1 billion. 

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Japanese sportswear brand Asics is expecting record profit for the current fiscal year after reporting double-digit sales growth for both the second quarter and the first half.

The company’s second-quarter net sales jumped 21.8 per cent year on year to US$1 billion. 

For the first six months, net sales reached ¥341.9 billion, an increase of 17.9 per cent. The SportStyle category led the growth with a 64.1 per cent improvement, followed by Onitsuka Tiger (up 55.4 per cent) and Performance Running (up 14.4 per cent).

By region, Greater China reported sales growth of 31.7 per cent, followed by Southeast and South Asia with a 31.3 per cent increase. Japan posted improvement of 23.8 per cent, while North America, Europe and Oceania rose 21 per cent, 16.7 per cent and 9.4 per cent respectively.

Following the strong performance, the company has raised its full-year outlook, expecting operating income and profit attributable to parent owners to reach record highs. Net sales are also forecast to reach a record of ¥660 billion, up 15.7 per cent versus FY23.

The post Asics eyes record profit after strong first half appeared first on Inside Retail Australia.