24 runninginsight.com © 2018 Formula4media LLC.
M
izuno will focus on turning around its business in the
Americas and growth in Asian markets over the next
three fiscal years as it aims to grow its topline footwear
business by nearly 20 percent over the period to the
equivalent of about $593 million globally. In FY17
ended March 31, the Japanese company improved its
profitability by more than 586 percent to $43.6 million
despite a topline decline of 1.8 percent to about $1.65 billion. In the
Americas' region, where the company worked to rebuild its organi-
zational structure and improve its inventory management system to
mitigate losses, Mizuno's total revenue declined 14 percent to the
equivalent of $189.7 million. Regional footwear sales were down 25
percent to $71.1 million but annual apparel revenues jumped more
than 9 percent to $31.9 million.
At ASICS, sluggish sales in the U.S. wholesale channel contrib-
uted to a nearly 27 percent decline in the market in the first quarter
ended March 31. Americas' revenues were off 27 percent to $201.1
million as running shoe sales dipped nearly 21 percent to $194.7
million on a currency-neutral basis. n
Brands Moving Forward After Mixed Results
RUNNING INSIGHT
Mizuno PRR Waveknit R1
ASICS Gel Fujirado
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