Global sportswear firms report mixed region-wise performances in Q1

Puma

Germany-based sportswear firm Puma's region-wise performance highlighted mixed results in Q1 FY24. The Americas experienced positive growth for the first time in four quarters, with sales increasing by 1 per cent to €790 million (approximately $855.8 million), particularly strong in the US. The Asia-Pacific region saw a modest increase of 0.6 per cent to €456.6 million, driven by a strong performance in Greater China. However, sales in the Europe, Middle East, and Africa (EMEA) region remained flat at €855.7 million, although results in Europe exceeded expectations.

ASICS Corporation

Japanese firm ASICS Corporation reported strong growth across most of its segments. In Japan, net sales increased by 10.2 per cent to ¥40.07 billion (approximately $257.3 million), with segment income surging by 39.8 per cent to ¥6.598 billion. The North America region saw net sales soar by 26.5 per cent to ¥33.07 billion, with segment income returning to profitability at ¥3.475 billion. In Europe, net sales rose by 8.8 per cent to ¥48.377 billion, and segment income jumped by 47.8 per cent to ¥9.684 billion. Greater China experienced a 24.5 per cent increase in net sales to ¥23.87 billion, with segment income rising by 28.3 per cent to ¥5.78 billion. The Oceania region saw net sales increase by 1.4 per cent to ¥11.69 billion, driven by strong sales in all categories except Performance Running, with segment income up by 20.9 per cent to ¥2.516 billion. Southeast and South Asia regions recorded a 31.8 per cent rise in net sales to ¥9.171 billion, and segment income grew by 28.7 per cent to ¥2.237 billion. However, other regions experienced a 2.5 per cent decrease in net sales to ¥12.711 billion, although segment income increased by 35.3 per cent to ¥2.518 billion.

Adidas

Multinational sportswear giant Adidas saw significant growth across various markets. Europe led the charge with a 14 per cent rise, driven by robust sales in both direct-to-consumer (DTC) and wholesale channels. Emerging markets and Latin America experienced vigorous growth rates of 17 per cent and 18 per cent, respectively. Greater China reported an 8 per cent increase, supported by strong wholesale and e-commerce sales. Japan and South Korea enjoyed a 7 per cent growth, fuelled by substantial gains in DTC. Conversely, North America faced a downturn, with revenues dropping by 4 per cent, primarily due to a significant decline in the wholesale channel.

Columbia Sportswear Company

American sportswear firm Columbia Sportswear Company reported its geographical net sales for Q1 FY24. In the US, net sales stood at $474.4 million, an 8 per cent decline from $517.5 million in Q1 FY23. Latin America and the Asia Pacific region saw net sales of $138.7 million, a 2 per cent increase from the previous year's $136.4 million, with a 7 per cent increase in constant-currency net sales. EMEA reported net sales of $104.5 million, down 4 per cent from $108.3 million, with a 6 per cent decline in constant-currency net sales. Canada experienced a 10 per cent decrease in net sales to $52.4 million from $58.4 million, with an 11 per cent decline in constant-currency net sales.

ALCHEMPro News Desk (DP)