Fila USA Impacted by Promotional Environment
Fila USA Impacted by Promotional Environment
The USA operating unit of South Korea’s Fila Holdings Corp. is currently forecasting a FY23 consolidated operating loss for the region in the range of $67.3 to $82.2 million, up from a prior forecast of a $59.8 to $67.3 million loss.
In Q1 ended March 31, Fila was negatively impacted by a widespread promotional environment in the U.S. Revenues, on a constant-currency basis, fell by 46 percent in Korean won to the equivalent of $57.4 million. The region’s operating loss equaled $20.9 million and gross profit fell 88 percent to the equivalent of $3.4 million on higher freight and storage costs.
Looking ahead on the product side in 2023, FILA is celebrating the 50th anniversary of FILA tennis wear this year and is preparing to launch related products and marketing activities.
.svg)