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Article Date: May 2020
Word Count: 435

Asics Back In the Red On 14% Lower Sales

The bottom line swung to a first quarter loss of ¥243 million ($2.2 mm) from a profit of ¥4,365 last year, as owned and customer store closures sent revenues down 14% to ¥85,341 million ($783.3 mm) from ¥98,708 million. Asics’ restructuring has been bearing fruit for several quarters now, and revenues were ahead of plan in Europe and North America until the pandemic forced retail closures there starting in March. China stores were closed with the Lunar New Year, but almost all had reopened by the end of the quarter. Home bound customers provided a boost to e-commerce in all ... Log in to view full article.


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