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Asics sales fall despite transformation plan

Asics’ consolidated net sales declined by 5.8% for the first quarter of the financial year to 31 March, following the implementation of a new Europe Middle East and Africa (EMEA) structure at the start of 2018.

Own stores showed growth of 13% and ecommerce sales rose by 25%, as emerging markets such as Russia and the Middle East increased by 20% and 106% respectively.

The company said the “cross-business transformation programme showed signs of positively impacting the business in key strategic areas” with predicted “accelerated future growth”.

Following the first quarter, Asics said it is “now better equipped to serve its key customers and diverse consumer base” through the creation of dedicated strategic accounts and emerging markets teams, and improving digital marketing and merchandising.

Asics launched two brand campaigns throughout the first quarter. “I move me”, aimed at inspiring people to get active, and “What the Gel”, which put a spotlight on the brand’s “GEL” technology “delivered strong results among target audiences.”

Asics CEO of EMEA Alistair Cameron said: “We are encouraged by the positive results delivered by our business transformation programme. With success in key emerging markets and our direct to consumer business, as well as the impactful launch of two major brand campaigns, we are excited about the prospect of future growth. In 2018, we expect to further reinforce our leadership in the core running market. With our focused approach and reinforced organisational structure, we’re confident we will deliver against our growth plans in 2018 and beyond.”

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