Running continues to be the sweet spot for Asics.
Net sales for Asics America Group (AAG), which includes the U.S., Canada, Mexico and Brazil, increased by 3 percent in the third quarter, with currency-neutral net sales up 8.5 percent. Meanwhile, revenue at Asics America Corp., consisting of the U.S. only, climbed 8 percent in the quarter.
The biggest boost to revenues in the U.S., the company said, came from the running-shoe category which grew 4.1 percent over same quarter last year. The U.S. also saw double-digit growth across the Athletic Sports Apparel category, the company said. Overall, sales in that category grew 15.2 percent, with running apparel rising 22.4 percent.
“We’re pleased to see a third consecutive quarter of solid growth and the continued interest in Asics’ newest innovations and designs,” said Gene McCarthy, who joined the company on Oct. 1 as president and CEO. “Everything we do as a company is geared toward helping people perform their best, and our commitment to our loyal customers — and athletes everywhere — has never been stronger.”
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In September, AAG unexpectedly announced the retirement of then-president and CEO Kevin Wulff. Simultaneously, the company named McCarthy — whose 30 years in the industry include executive titles at Wolverine World Wide Inc.’s Merrell brand, Under Armour, Reebok, Timberland and Nike — as Wulff’s replacement.
Other areas of growth in Q3 were the tennis category, which saw footwear sales improve 45.6 percent, and lifestyle footwear, where revenue rose 60 percent year-over-year.
“I’m incredibly excited to be on board,” said McCarthy. “Asics has a tremendous heritage, and we are in a great position to continue to drive our brand and the industry forward.”
Since June, Asics America has been in a public entanglement with Windsor Financial Group LLC, a company that had owned and operated 13 Asics retail stores in North America since 2013 before Asics terminated the agreement on June 25.
All 13 of the Windsor-owned Asics retail locations have been shuttered.
