The Japanese group maintained its FY outlook as it reported a 22 percent increase in Q1 operating income to ¥6,498 million (€40.5m) versus ¥5,344 million for the period ended June 30. Profit attributable to the parent rose by 10 percent year-over-year to ¥5,135 million (€32.0m) from ¥4,670 million.
Mizuno’s Q1 revenues climbed 6.3 percent higher year-over-year to ¥60,783 million (€378.9m) from ¥57,176 million. While citing ‘a gradual recovery trend’ in its home market, the company cited concerns about a slowdown in consumer consumption and the impacts of growing instability on financial markets and distribution networks when discussing other regions worldwide.
In Europe, the brand enjoyed growth in soccer and lifestyle shoes, plus higher sales of performance products for volleyball and running. The region’s quarterly operating profit improved by 42 percent year-over-year to ¥275 million (€1.7m) despite a 2.0 percent decline in sales to ¥6,473 million (€40.3m).
Americas’ operating profit rose by 9.2 percent year-over-year in Q1 to ¥1,738 million (€10.8m) on 8.1 percent sales growth to ¥11,293 million (€70.4m) as the region’s gross profit improved thanks to better inventory management.
In the company’s home market, higher performance, lifestyle, and work product sales contributed to a 6.9 percent revenue growth to ¥34,797 million (€216.9m). Operating profit increased 24 percent to ¥3,131 million (€19.5m).
Mizuno’s FY outlook for the 12 months ending March 31, 2025, is maintained. Full-year revenues are projected to increase by 8.8 percent to ¥250,000 million (€1.56b). Annual operating profit is forecast to increase by 10.0 percent year-over-year to ¥19,000 million (€118.4m), with profit attributable to the company expected to come in 4.8 percent higher at ¥15,000 million (€93.5m).
