Asics welcomes record sales for Q1, driven by SportStyle and Onitsuka Tiger

Footwear brand Asics reported a 19.7 percent year-on-year uptick in sales for the first quarter of 2025, achieving a quarterly sales record of 208.3 billion yen (1.08 billion pounds). The company’s SportStyle category was a core driver in this increase, reporting a 49.3 percent currency-neutral rise in sales to 35.1 billion yen.

Onitsuka Tiger, however, welcomed the strongest sales growth of 57.2 percent, accelerated by inbound tourists to Japan. Its Performance Running category saw an 11.5 percent increase in sales to 98 billion yen, while Apparel & Equipment sales rose 10.9 percent to 10.3 billion yen.

Overall, Asics’ group gross margin came to 55.8 percent, increasing 1.3 percentage points over the previous year. Its operating profit also increased, rising 31.6 percent to 44.5 billion yen, with a margin of 21.4 percent. Group profit, meanwhile, amounted to 31.6 billion yen, reflecting an 18.4 percent growth.

In terms of geographies, Asics Japan welcomed a 33 percent in net sales to 31.7 billion yen, with its operating margin increasing 6.7 percentage points to 28.5 percent. North America, meanwhile, also reported a strong period, with net sales rising 18.3 percent to 39.1 billion yen. Speciality stores were credited with driving such growth.

Asics outlined a strategy in its report specifically for the US, which it says contributes an operating profit of 7 percent. It did note, however, that the impact of US tariff policies and rise in freight costs is expected to be up to five billion yen for 2025, yet its full-year consolidated business forecast remains unchanged.

Net sales in Europe came to 58.7 billion yen, increasing 21.5 percent. Here, Asics said it saw “steady and sustained growth”, yet momentum was accelerated by strong performance from the Performance Running and SportStyle categories. Asics said it plans to further this growth in the region by strengthening its brand strategy through event sponsorships and opening flagship stores.