Asics America Group, which includes United States, Brazil and Canada,
announced that first half 2012 net income was up 17.9 percent over the
same half in 2011. Net sales for the period were up 14.1 percent on a
currency-neutral basis and operating income jumped 53.5 percent.
The first half saw double-digit growth in all categories, which
includes footwear, apparel and accessories. Asics America Corporation
expects similar growth in second half of 2012 and is on track to reach
its billion dollars in sales goal by 2015.
“At Asics we STOP AT
NEVER to achieve our goals,” says Asics America Group President and CEO
Kevin Wulff. “We are continuing to see significant growth and are on
track to reach our goals for 2012 and our 2015 big goal of becoming a
billion dollar company. I attribute this success to the dedication of
our team, innovative products, continued momentum in running and growth
in the tennis and training categories.”
Asics America said it
continues to challenge itself at being a leading brand of choice for
sports enthusiast. Recently, Asics America expanded product offerings in
the tennis and training categories and is continuing to explore more
opportunities to build and penetrate brand awareness. Asics America said
the combination of these variables will contribute to the success of
reaching the 2015 sales goal.
According to its just-released
corporate results for the half ended Sept. 30, revenues in the Americas
area grew 10.9 percent to ¥34.7 billion, up from ¥31.3 biilion a year
ago. Sales advanced 14.1 percent in constant-currencies. Operating
income reached ¥3.22 billion, up from ¥2.1 billion a year ago.
The strength in the Americas helped offset some weakness in its Japan and Europe.
In
its home Japan region, sales improved 3.8 percent to ¥53.9 billion from
¥51.9 billion. Operating earnings slid 11.5 percent to ¥2.5 billion
from ¥2.8 billion.
In the Europe region, sales were down 2.5
percent to ¥30.9 billion from ¥31.7 billion but were up 8.4 percent on a
currency-neutral basis. Operating earnings slumped 13.9 percent to ¥3.7
billion from ¥4.3 billion.
In the Oceania area, sales rose to
¥5.6 billion from ¥5.3 billion and advanced 9.8 percent
currency-neutral; operating income declined slightly to ¥1.38 billion
from ¥1.39 billion. In the East Asia area, sales were off to ¥6.6
billion from ¥6.9 billion; operating earnings eased to ¥635 million from
¥771 million.
In its Other business, revenues were down 3.2
percent to ¥3.18 billion from ¥3.29 billion but grew 6.7 percent on a
currency-neutral basis. The segment’s operating loss was trimmed to ¥339
million from ¥465 million.
Overall, consolidated net sales
increased 2.2 percent to ¥126,601 million. Domestic net sales increased
0.4 percent to ¥43,386 million mainly due to the strong sales of running
shoes and training wear notwithstanding the weak sales of baseball wear
and equipment. Overseas sales increased 3.1 percent to ¥83,215 million
due to the effect of foreign exchange rates notwithstanding the strong
sales of running shoes in the Americas, Europe and other regions.
Gross
profit increased 0.2 percent to ¥54.6 billion mainly due to an increase
in net sales, notwithstanding a rise in purchasing costs. Selling,
general and administrative expenses increased 0.4 percent to ¥43.6
billion primarily due to an increase in personnel expenses,
notwithstanding a decrease in advertising expenses. As a result,
operating income fell 0.9 percent to ¥10.97 billion. Ordinary income
increased 7.0 percent to ¥10.0 billion due to a decrease in exchange
loss. Net income for the second quarter increased 13.8 percent to ¥5.8
billion.
In its statement, Asics Corp. noted that an economic
slowdown in the global economy occurred in the first six months through
Sept. 30, mainly due to the aggravation of the sovereign debt problem in
Europe. Asics added, “The Japanese economy, although the trend of
moderate recovery on the back of factors such as earthquake recovery
demand was observed, still faced difficult conditions due to the effects
of the trend of weak personal consumption, deflation and other
factors.”
In the sporting goods industry, interests in sport
remained at a high level owing to rising health consciousness on the
back of a running boom and other factors, but business conditions
remained challenging. Under these conditions, the Asics Group said it
continued efforts to reinforce and expand its business on a global scale
based on the Five-Year Strategic Plan, “Asics Growth Plan (AGP) 2015.”
In
addition to supporting marathon events held in different parts of the
world including Paris, Stockholm and Gold Coast, the Asics Group
manufactured and supplied its products used by athletes representing
their countries in various events at Games of the XXX Olympiad, London
2012 such as track & field, swimming and wrestling. Besides, the
Asics Group strived for heightening the value of the Asics brand and
enhancing the corporate image through such measures as deciding to
integrate all of its baseball products under the Asics brand.
On
the sales front, the Asics Group worked to expand sales through such
measures as opening directly managed sales venues in places such as
Spain, Portugal and Brazil, in addition to a flagship store of the Asics
brand in London, and a flagship store of the Onitsuka Tiger brand in
Tokyo. Furthermore, the Asics Group decided to split its businesses in
Japan from the global headquarters as well as to streamline and
consolidate its Japanese domestic sales subsidiaries.
Asics
concluded, “Through these moves, it is aimed for the Asics Corporation,
as the global headquarters, to carry out business management focused on
global market trends and strengthen its product development capability,
which is a source of competitiveness, and for the businesses in Japan to
strengthen and expand their marketing and sales functions.”
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