Parent company Nike provided details about Converse’s annual results for the 12 months ended May 31 in its annual report that filed last week. Fiscal year revenues for the All-Star brand rose by 3 percent to nearly $2.43 billion with footwear accounting for nearly 89 percent of the total. Annual ebit at Converse was $676 million versus $669 million in FY22. Currency-neutral brand sales increased by 8 percent last year due to revenue growth in North America, Western Europe and licensee markets that was partially offset by declines in Asia.

Direct-to-consumer sales jumped by 8 percent on a currency-neutral basis ad 5 percent on a reported basis to $974 million. Sales to wholesale customers inched up by 1 percent to nearly $1.3 billion from $1.29 billion. Combined unit sales from both the d-t-c and wholesale channels increased by 1 percent while ASP (average selling price) rose by 6 percent, driven by strategic pricing actions in Western Europe and North America.

Aside from footwear, Converse realized a 13 percent year-over-year drop in apparel sales in FY23 to $90 million from $103 million and 8 percent growth in equipment sales to $154 million. Third-party licensees who pay royalties to Converse for use of its registered trademarks and intellectual property rights generated 25 percent revenue growth in the FY to $154 million. It should be noted, Nike does not own Converse trademarks in Japan, so it does not produce revenue in that market.