Asics boosts forecast after strong results
Asics Corporation has increased its full-year forecast following strong financial performance in the second quarter and first half of the fiscal year.
In the fiscal second quarter, Asics reported net sales of around $1 billion, up 21.8 percent year-over-year.
SportStyle sales rose by 79.5 percent, Onitsuka Tiger by 60.4 percent, and Performance Running by 18.6 percent. Regionally, sales increased across all major regions. For the first half of the fiscal year, net sales are projected at $2.15 billion, a 17.9 percent increase year-over-year.
Asics now expects full-year net sales to reach a record $4.2 billion, up 15.7 percent from fiscal 2023. The company also reported a 430 basis point improvement in gross margin for the first half, reaching 54.5 percent, and anticipates continued margin improvement for the full year. Operating income is expected to rise by 58.8 percent from the previous forecast, excluding currency effects.
