On a constant-currency basis, Q1 sales fell by 3.3 percent.
The former Fila Holdings and ongoing parent of golf’s Acushnet Co. generated a flat operating profit of KRW162,675 million (€103.9m) on 4.6 percent reported revenue growth to KRW1,237,499 million (€790.3m). On a constant-currency basis, Q1 sales fell by 3.3 percent. Acushnet sales swung 8.7 percent higher to KRW1,021,761 million (€652.6m) as Misto revenues tumbled by 11.1 percent on a reported basis to KRW215,738 million (€137.8m). Footwear sales were strong in the home Korean market, and the online Direct-to-Consumer channel generated a 53 percent year-over-year sales increase. But Misto’s Q1 results were negatively impacted by the restructuring of the North American business.
Misto has re-affirmed its FY25 financial guidance. The company anticipates 25-35 percent growth in consolidated operating income with the Misto segment projected to return to profitability in a range of KRW 50-60 billion (€31.9-€38.3m) after reporting a loss in FY24. Annual consolidated revenues are forecast to be flat to up by 5 percent.
