The Japanese sports equipment and sportswear company Mizuno is planning to develop non-sports products like lifestyle footwear for the European market.
In the first half of its fiscal year ending on March 31, 2021, Mizuno’s overall revenues declined by 22.5 percent from the year-ago period to 66.2 billion yen (€537.7m-$639.0m). The gross margin narrowed by 2.0 percentage points to 39.7 percent, while net income plunged by 95.7 percent to ¥100 million (€0.8m-$1.0m).
In the EMEA region, sales declined by 14.1 percent to ¥6.7 billion (€54.4m-$64.6m) with good sales in golf and running, but this was not enough to offset the impact of the Covid-19 pandemic. The company ended with an operating loss in the region of around ¥100 million (€0.8m-$1.0m) as compared to a profit of ¥300 million in the year-ago period.