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Article Date: May 2024
Word Count: 405

Asics Bounds Higher to Start 2024

Net income jumped 64% in the first quarter to ¥26,737 million ($180.3 mm) against ¥16,310 million, on 14% higher revenues of ¥174,102 million ($1,173.7 mm) up from ¥152,297 million, helped by sales in overseas markets as the yen weakened. E-commerce sales grew 32% to ¥29,200 million. Gross margin jumped 430 basis points to 54.5%, up in all categories, regions, and channels, helped by a shift towards higher-end product and channel mix improvement. SG&A was 12% higher in yen due to higher personnel expenses and advertising spending in advance of the Olympics, ... Log in to view full article.


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