Asics Corp. raised full-year guidance and a projection for operating profit ahead of plan following a strong second quarter report.
Results for the three months ended June 30 were helped strong strong performance in its performance running, sportstyle and Onitsuka Tiger categories. Asics’ core performance sports category also showed gains in the quarter. Results were more than enough for the Japanese sportswear company to raise its operating profit projection for the year to 136 billion yen, one year ahead of its initial expectation as stated in its Mid-Term Plan 2026. The prior estimate for Fiscal Year 2025 was 120 billion yen back in February. It guided net sales to 800.0 billion yen for the year, up from 780.0 billion yen.
Also providing a tailwind to updated projections was “reduced uncertainty around U.S. tariff impacts,” Asics said on Wednesday. U.S. President Donald Trump said last month that it had the parameters for a trade deal with Japan that set tariffs for Japanese imports to America at 15 percent, down from a proposed 25 percent. The final terms of the deal are still being negotiated. Even with the additional tariffs, the company raised upward its full-year operating profit guidance for the North America business to 15.0 billion yen from 11.5 billion yen. Net sales were also guided upward to 145 billion yen from February’s forecast of 136 billion yen.
Data for Asics North America — the region that includes the U.S., Canada and Mexico — showed a quarterly profit for the eighth time in the past nine quarters, driven by success of the wholesale channel. U.S. wholesale sales rose nearly 40 percent from year-ago levels. The running and sportstyle businesses also posted double-digit increases from year-ago levels. On a local currency basis, the U.S. and Mexico produced double-digit growth, while Canada reach a high single-digit growth year-to date. Separately, in retail, Asics’ Meatpacking store posted a net sales growth of 15.5 percent in the quarter, aided by implementation of omnichannel initiatives to bolster the in-store assortment mix.
“The consistent demand for Asics footwear products across the region speaks to our relentless pursuit of developing technically advanced performance running products while remaining very aware of broader cultural and lifestyle trends to support the sportstyle category,” Koichiro Kodama, president and CEO of Asics North America, said. He said both the Megablast and Sonicblast performance running models, part of the company’s Blast footwear series, will have expanded offerings for consumers this fall.
The overall Asics operation ended the second quarter with earnings that rose 41.8 percent to 22.0 billion yen, up from 15.5 billion yen a year ago. Net sales were up 15.7 percent to 194.4 billion yen from 168.0 billion yen.
By category, running net sales rose 4.8 percent to 86.9 billion yen for the quarter. The category was led by Novablast 5, which showed strong sales worldwide. Asics has also been actively introducing new products, taking advantage of momentum from the upcoming World Athletics Championships Tokyo 25 slated for next month. In core performance, net sales were up 8.2 percent to 18.6 billion yen. The category was driven by sales for shoes such as the DS Light X-Fly 6, a soccer spike that provides a barefoot feel with its SilkyWrap construction, as well as footwear for volleyball and all racquet sports.
The sportstyle unit posted a 43 percent jump in net sales to 32.1 billion yen, driven by strong performance of Vintage Tech and sales of Gel-NYC from the Modern silo and Kinetic Fluent from Vis-Tech. The category also celebrated the 10-year anniversary of its Gel-Quantum franchise. The Onitsuka Tiger business posted a 45.2 percent jump in net sales to 37.5 billion yen. Its Tiger loafer features a distinctive silhouette with a voluminous toe. Net sales were robust in Japan to inbound tourists and in the Europe and Greater China regions. An Onitsuka Tiger store opened in Covent Garden, London, in May, and on the Champs-Élysées, Paris, in July. Asics said the Onitsuka Tiger will participate in Milan Fashion Week in September.
Earlier this year saw the Sneaker Politics x Asics “Just Say No” release, while earlier this month Asics released its new Gel-Sekiran sneaker in the U.S. for the first time, with JD Sports as an exclusive partner for the launch.
And separately last month, Asics America moved its North American head office to 179 Lincoln Street in Boston’s Leather District. The new five-story, 221,474-square-foot building, which is LEED Silver-certified, spans an entire city block and once was home to a shoe factory.