Asics 9 Months Up

Japanese athletic firm Asics Corp. reported a surge in profit for the nine months ended Dec. 30.

Net income increased 42.9 percent to 12.5 billion yen, or $133.7 million at current exchange, from the same period a year ago. Total revenue gained 2.3 percent to 190.5 billion yen, or $2.04 billion.

By area, sales in the Asia-Pacific region showed the most gains, growing 13.5 percent currency-neutral. The Americas improved 11.2 percent, Europe gained 8 percent and the domestic Japanese market advanced 6.1 percent.

The company said in a statement that sales growth was partly driven by opening directly operated stores in Brazil, the U.S. and Australia, and flagships in London, Barcelona and Kobe, Japan.

For the full fiscal year, the firm expects net income to grow 11 percent to reach 14 billion yen, or $149.7 million. Sales are expected to advance 5.9 percent to come in at 262.5 billion yen, or $2.8 billion.

For its part, Asics America Group expects to see continued growth this year and is on track to reach its billion-dollar sales goal by 2014, it said in a statement. The group added that footwear sales are being driven by running, tennis and training footwear.
“Our innovative team, ever-expanding line of products and strong growth in footwear and apparel categories for running and tennis are the key components to our continued success,” said Asics America Group President and CEO Kevin Wulff.

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