Asics upbeat despite 3% dip in half-year sales

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ASICS half-year

Asics has recorded a dip in half-year sales but the sportswear retailer insists it is seeing positive signs after the implementation of a new business structure earlier this year.

For the six months to June 30, sales in Asics’ EMEA division dropped by three per cent.

The sportswear brand and retailer said its second quarter saw an upward trend, with own-brand stores reporting an 11 per cent surge in sales, thanks to the impact of the business transformation in key strategic area.

Meanwhile, ecommerce sales skyrocketed 50 per cent and there was continued strong performance in emerging markets Russia, which grew 16 per cent, and the Middle East, which recorded a whopping 229 per cent increase.

The second quarter result also makes up for the 5.8 per cent overall fall in sales Asics recorded in its first quarter, during what was a tough start to the year.

“We are encouraged by the positive developments starting to take effect following our business transformation at the start of this year,” Asics EMEA chief executive Alistair Cameron said.

“After a tough start to 2018, the second quarter started to show positive signs of growth in key areas as we shipped company-record levels.

“These results support our optimistic outlook as we look to make up lost ground on a slow first quarter.”

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