Asics Outperforms in Third Quarter, Raises Guidance Again
Another strong performance from the Japanese sportswear brand saw net income soar 47% to ¥22,721 million ($152.4 mm) in Q3 from ¥15,484 million as revenues increased 16% to ¥183,255 million ($1,228.8 mm) from ¥158,026 million. E-commerce sales increased 26% to 33.9 billion, and were up 150 basis points to 18.5% of the total top line. OneAsics membership has nearly doubled from a year ago to 16.6 million, including local programs in China, India and other countries. Gross margin expanded by 340 basis points to 55.0% and SG&A was 15% higher, but ... Log in to view full article.