Asics Boosts Profit Estimate on Return of the Dad Sneaker
- Lifts operating profit view by 64% as weak yen gives tailwind
- Expects strong demand to continue in Japan and overseas
Asics sneakers on sale at a store in California.
Photographer: Justin Sullivan/Getty ImagesAsics Corp. raised its full-year operating profit forecast by 64% on rising demand for its practical running shoes in Japan and abroad.
The company, seller of the Onitsuka Tiger brand, expects record operating profit of ¥95 billion ($596 million) for the year through December, it said Friday. It also lifted guidance for sales and net profit to all-time highs.