• Fashion network/ by Thomson Reuters

ASICS Q2 sales plunge more than 20%

Sports shoe brand Asics posted 21.5 per cent sales decrease to ¥146.89 billion in its second quarter that ended on June 30. The company incurred an operating loss of ¥3.87 billion compared to operating income of ¥8.58 billion in Q2 FY19.

Gross profit slipped 20.7 per cent to ¥70.5 billion and the ordinary loss during the quarter was ¥3.87 billion. However, the company’s digital sales increased worldwide with 151 per cent growth in North America and 139 per cent in Europe.

During the second quarter, sales of the performance running category fell 15.1 per cent to ¥70.93 billion (Q2 FY19: ¥83.57 billion). Sales of core performance sports dropped 25.5 per cent to ¥16.18 billion (¥21.72 billion). Sports style sales were down 22.7 per cent to ¥12.60 billion (¥16.31 billion). Apparel and equipment sales decreased 36.3 per cent to ¥12.53 billion (¥19.68 billion). Onitsuka Tiger sales dropped 31.6 per cent to ¥15.68 billion (¥22.92 billion).

Sales in all the regions were down during Q2 FY20: Japan decreased 24 per cent to ¥47.0 billion; North America 27.1 per cent to ¥28.41 billion; Europe 20.5 per cent to ¥37.09 billion; Greater China 0.7 per cent to ¥18.52 billion; and Oceanian 1.4 per cent to ¥8.58 billion.

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