Asics reported results for the first nine months of the year that showed solid growth across several regions and channels, including in North America.
According to the Japan-based athletic brand, gross profit increased 26.7 percent to 290 billion yen. Net sales for the first nine months of 2024 jumped 17.3 percent to 525 billion yen, driven by strong sales across all categories.
By category, sales in performance running increased 13.7 percent, core performance sports increased 6.3 percent, apparel and equipment sales increased 4 percent and Onitsuka Tiger net sales increased 52.7 percent. Sportstyle sales increased 63.4 percent, driven by strong sales in all regions.
In North America, revenues were up 18.7 percent to 104 billion yen, driven by strong sales in the performance running and sportstyle categories, the latter of which achieved a sales increase of over two times in the region.
Asics has recently ramped up its efforts to claim a top spot in the competitive running market in the U.S., a strategy that largely depends on deepening its connection with the run specialty retail channel. In June, Asics increased its share in the run specialty channel in North America by 13.1 percent while reducing the number of entry models. Asics also tightened its owned retail store count to 72 stores in the first half of the year.
Asics president and chief operating officer Mitsuyuki Tominaga told FN in an April interview that the company is doubling-down on its investment into run specialty, creating innovative products and thinking about its broader role in the running ecosystem, which could include additional services and experiences outside of its core products.
Outside of the U.S., sales in the first nine months of the year also increased double digits in Japan, Europe, Greater China and the Southeast and South Asia regions.
