Asics’ FY22 Revenues Jumped 22 Percent but Operating Profit Fell
North American operating income for Asics declined to ¥26 million, or about $196,000, in 2022 due to higher costs associated with the region’s e-commerce sales. But the regional revenues for the Japanese company increased by 22 percent to approximately $795.9 million on positive impact from currency and strong sales in the performance running and core performance sports categories.
The brand’s overall performance running segment generated a 24.0 percent gain in annual sales last year to approximately $1.95 billion as segment revenues rose more than 20 percent in Europe and more than 30 percent in China. Core performance sports annual sales were 31 percent higher at approximately $409.2 million for the 12 months ended Dec. 31.
Overall, Asics Corp. realized a 54.9 percent increase in FY22 operating profit to an estimated $256.9 million. The annual profit was approximately $150.3 million. Annual revenues rose by 19.9 percent, or 9.6 percent in constant currency, to an estimated $3.66 billion as global e-commerce sales increased 35 percent to $652.1 million.
The FY23 outlook calls for 8.8 percent growth in operating income to approximately $279.6 million and a total revenue increase of 5.2 percent in Japanese yen to an estimated $3.85 million. The performance running business is projected to 5.7 percent to an estimated $2.06 million with the core performance category increasing 12.6 percent to an estimated $460.9 million. North American revenues are expected to increase 2.5 percent this year.