Mizuno suffers in its third quarter

By

Olivier Guyot

Published
Feb 10, 2015

Mizuno has limited the damage. Even though the Japanese kit supplier saw its numbers go down in the third quarter of 2014-15, ended on 31 December, for the nine months overall the group saw its sales increase 1.1% to 991 million euros (133.7 billion yen).

Sales of the lifestyle and running products have notably remained stable, while the golf sector has declined. Shoes (+5%), with 291 million euros, have taken the upper hand over textiles (-2%) and its 283 million euros. Next follows equipment with 219 million euros (-2%) and services with 127 million euros (+1%).

Revenue in Japan, at 599 million euros, declined 4%. For the Americas zone, its second biggest market, revenue stiffened at 3%, at 149 million euros. Europe, with 76 million euros, went up 11%, and the Asia-Pacific zone (not including Japan) jumped more than 55% to 96 million euros. However, its overall operating result went down 11.7%, at nearly 24 million euros.

The group explains this drop by the increase in operating costs. But the drop materialised in its third quarter. Indeed, although its revenue for the period reached a steady 301 million euros, its operating resulting plummeted 50% for the quarter, from 7 to a bit more than 3 million euros.

Nevertheless, the group did record growth of more than 15% in its net results at 165 million euros, without, however, specifying the origin of this increase.

€1 = $1.13/£0.74