Fila’s Acushnet posts record quarterly sales on upbeat US sales
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South Korean fashion company Fila Holdings Corp. said Thursday its US subsidiary Acushnet posted record sales of 906.01 billion won ($675.42 million) in the April-June period this year, up 9.3 percent from a year ago.
Acushnet is a golf equipment and apparel company that owns the leading golf brands including Titleist and Footjoy. Currently, Fila controls about 50 percent of stakes in the company.
Fila attributed the company’s record earnings to the boosted demand for Titleist golf balls and clubs in North America. On the back of the increased number of golf rounds played in the US in the first half of this year, Acushnet saw its US sales jump 14.2 percent in the second quarter.
The firm also cited the stabilized supply chain, reduced costs in logistics, and a favorable foreign exchange rate as the key factors behind upbeat earnings.
In the meantime, Fila posted 1.15 trillion won in its second-quarter sales. Operating profits plunged almost 40 percent to 91.9 billion won during the same period.
Despite slowing profits, the firm said it is committed to diversifying its business portfolio and expanding its presence in global markets.
By Mun So-jeong(munsojeong@heraldcorp.com)
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