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$681m), thanks to strong sales of running shoes, offset by weaker revenues from baseball ware and equipment.
Overseas sales rose 2.9% to JPY126.95bn, impacted by exchange rates but boosted by strong sales of running shoes in the Americas and Europe.
Asics said it had attempted to boost sales during the three months to 31 December by opening directly managed sales outlets in Brazil, the US and Australia, as well as flagship stores in London, Barcelona and Kobe.
The strong increase in profit, it added, was caused by the recording of a tax refund and interest from a refund which arose from transfer pricing taxation.
Japanese sporting goods firm Asics is to compensate the families of victims who were killed when part of a factory building collapsed at one of its footwear suppliers in Cambodia - and says the move i...
This report analyzes the worldwide markets for Sports and Fitness Clothing in US$ Million by the following Product Segments: Sports Apparel, and Fitness Clothing. The report provides separate comprehe...
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....
- Impact of the TPP on the US textile industry?
- JC Penney emphasises new merchandising strategy
- Crystal Group nurtures its caring culture
- Hazardous chemical removal a key industry issue
- US apparel import data shows China competitiveness
- Vietnam proposes 15% rise to regional minimum wage
- Cambodia garment workers “dying on the job”
- Avery Dennison forms JV with Ningbo Shenzhou
- Nike appointments to drive growth opportunities
- Critical findings identified at Bangladesh complex
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details
- Textile Wholesaling in the UK - Industry Market Research Report
- Global market review of denim and jeanswear – forecasts to 2020
- Survey of the European Fabric Fairs: Spring/Summer 2015
- Prospects for the Textile and Clothing Industry in Turkey