Asics fails to drive sales since reopening stores

Asics trading update covid-19
Despite its losses, Asics recorded an online sales rise of 139% across Europe
// Asics sales decline amid Covid-19 crisis
// Losses continued to widen since reopening stores on June 15

Asics has reported a drop in its sales as the business continued to struggle with trading amid the Covid-19 pandemic.

The Japanese sportswear retailer posted a 21.5 per cent sales drop to ¥146.89 billion (£1.06 billion) in its second quarter that ended on June 30.

Asics also recorded an operating loss of ¥3.87 billion (£280 million) compared to operating income of ¥8.58 billion (£620 million) in the same period last year.


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Gross profit slipped 20.7 per cent to ¥70.5 billion (£51 million) and the ordinary loss during the quarter was ¥3.87 billion (£28 million).

Despite its losses, Asics recorded an online sales rise of 139 per cent in Europe.

During the second quarter, sales of the performance running category fell 15.1 per cent to ¥70.93 billion (£51 million) compared to ¥83.57 billion (£60 million) during the same period last year.

Sales of core performance sports dropped 25.5 per cent to ¥16.18 billion (£12 million) while sports style sales were down 22.7 per cent to ¥12.60 billion (£91 million).

Apparel and equipment sales decreased 36.3 per cent to ¥12.53 billion (£90 million).

Sales in its homeland Japan decreased 24 per cent to ¥47.0 billion (£34 million) while Europe sales dropped 20.5 per cent to ¥37.09 billion (£27 million).

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