JAPAN: Tax rebate boosts Asics Q3 profit
- Q3 net profit up 42.9% to JPY12.519bn
- Net sales up 2.3% to JPY190.5bn
- Profit impacted by tax rebate and interest
A refund in taxes helped boost third quarter profits at sporting goods business Asics, which also recorded net sales increases at home and overseas.
Sales in the domestic Japanese market were up 1% to JPY63.5bn (US$681m), thanks to strong sales of running shoes, offset by weaker revenues from baseball ware and equipment.
Overseas sales rose 2.9% to JPY126.95bn, impacted by exchange rates but boosted by strong sales of running shoes in the Americas and Europe.
Asics said it had attempted to boost sales during the three months to 31 December by opening directly managed sales outlets in Brazil, the US and Australia, as well as flagship stores in London, Barcelona and Kobe.
The strong increase in profit, it added, was caused by the recording of a tax refund and interest from a refund which arose from transfer pricing taxation.
Japanese sporting goods firm Asics is to compensate the families of victims who were killed when part of a factory building collapsed at one of its footwear suppliers in Cambodia - and says the move i...
The International Labour Organization's Better Factories Cambodia (BFC) initiative is advising that a structural review is carried out on all buildings in all garment and footwear factories in Cambodi...
A factory where a shelter collapsed earlier this week injuring 23 people was making clothes for Swedish fashion retailer H&M without its knowledge, the company has admitted....
Two workers have died after a Cambodian factory that manufacturers footwear for Japanese sporting goods firm Asics collapsed earlier today (16 May)....
- How apparel retailers should react to Brexit
- Big data helps Crystal Group sustainability gains
- Brexit and the apparel industry – what lies ahead?
- Britain votes for Brexit – what happens next?
- Brexit uncertainty over pending EU trade deals
- Brexit to halt deflation in UK clothing sector
- Under Armour opens manufacturing innovation hub
- Delta Galil buys VF Corp premium brands for $120m
- Nike faces domestic and future order headwinds
- Walmart's 'Made in USA' pledge misleading
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Clothing & Footwear Retailing in Denmark
- Primark Stores Limited: Retailing - Company Profile & SWOT Analysis
- Clothing & Footwear Retailing in Indonesia– Market Summary & Forecasts
- Luxury Goods Retailing in Europe, 2014-2019 ; Market & Category Expenditure and Forecasts, Trends, and Competitive Landscape