International sales buoy Asics
For its second quarter, April 1 to September 30, 2012, Japanese sportswear company Asics reported net sales of 1.2 billion euros (126.6 billion yen), a 2.2% increase. The results were largely driven by international sales, which increased 3.1% to 807 million euros, while domestic sales remained stable at 0.4% or 418 million euros.
However, exchange rates continued to penalize Asics as they did in the first half of the year. While the company saw its sales grow by more than 8.4% in Europe before exchange rates, sales on the Old Continent showed a drop of -2.5% when converted to local currency — 300 million euros compared to 308 million euros for the same period last year. Europe is the Japanese company's third largest market after Japan and the Americas, and maintained the highest operating income of 35 million euros.
For the fiscal year ending March 31, 2013, Asics expects sales to increase 4.5% to 2.5 billion euros, and operating income to rise 1.9% or 194 million euros.
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