300
Fashion Jobs
L'OREAL GROUP
Assistant CRM Manager
Permanent · HONG KONG
L'OREAL GROUP
Key Account Manager
Permanent · HONG KONG
H&M
Total Rewards Manager, Supply Chain
Permanent · TSIM SHA TSUI
H&M
Accounts Specialist
Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Assistant Education Manager, Clinique
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
TOMMY HILFIGER
Senior Manager, Creative Services, Tommy Hilfiger Asia Pacific
Permanent · HONG KONG
AESOP
Retail Consultant
Permanent · SHA TIN
NEWELL
Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
Permanent · HONG KONG
ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
Permanent · HONG KONG
PUMA
Manager Innovation Technical Apparel
Permanent · HONG KONG
DR. MARTENS
Head of Financial Accounting, Apac
Permanent · TSIM SHA TSUI
TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
Permanent · HONG KONG
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Hysan Place
Permanent · CAUSEWAY BAY
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Yoho Mall
Permanent · HONG KONG
A & F
Abercrombie & Fitch - Brand Representative (Part-Time / Full-Time), Harbour City
Permanent · TSIM SHA TSUI
KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
Published
Feb 19, 2020
Reading time
2 minutes
Download
Download the article
Print
Text size

Asics ends year with sales drop in Europe

Published
Feb 19, 2020

Japanese sportswear multinational Asics Corporation ended the year with a slide in sales, as European sales saw a slowdown, in addition to the effect of unfavourable foreign exchange rates.


Asics ends year with sales drop. - Facebook: Asics


The company saw sales drop 2.2 percent to ¥378.05 billion ($3.44 bn), an increase of 1.6% at a foreign exchange rate comparative to that of the previous fiscal year, for the full-year ended December 31, 2019. This was mainly due to the effect of unfavourable foreign exchange rates and weak sales of its apparel and equipment category, despite strong sales across its performance running category and the Onitsuka Tiger category, on a local currency basis. 

Regionally, Japanese sales rose 2.3 percent to ¥120.95 billion, due to strong shoe sales to overseas sales subsidiaries. 

In North American, sales fell 0.2 percent (an increase of 1.2 percent on a currency-neutral basis) to ¥78.96 billion, as the performance running category and the core performance sports category performed well. 

In Europe, however, sales fell as much as 9.5 percent and were even down a 3.7 percent on a currency-neutral basis, as the performance running category and the sports style category proved weak.

Sales in greater China also fell by 0.6 percent, while the Southeast and South Asian regions saw sales rise 18.8 percent, again due to Onitsuka Tiger and the performance running category.

Net profit in the year was ¥7.1 billion ($65 mm), mainly due to the recording of deferred tax assets due to tax consolidation in Japan applied from the next fiscal year. In the prior year, the net loss came to ¥20.3 billion.

Likewise, in the fourth quarter, companywide sales inched up 1 percent to ¥91.9 billion ( $837 mm). Net income came to ¥169 million against a net loss of ¥28.6 billion during the same period a year ago.

Looking ahead for the current year, Asics expects revenues to reach ¥400 billion, representing a 5.8 percent increase; operating income to equal ¥9 billion, down 15.4 percent; ordinary income of ¥8 billion, down 20.8 percent; and net income of ¥4 billion, down 43.6 percent.

Copyright © 2024 FashionNetwork.com All rights reserved.