Amer Sports stagnates in Q3
Amer Sports has had to rely on its outdoor brands in Q3. The Finnish group has seen its sales stagnate during the three months ending September 30 compared to the same period last year. The owner of Salomon, Atomic, Arc'teryx and Wilson has logged 733 million euros in sales, compared to under 737 million euros in the previous year.
Like other sports brands, its wallet is still taking a beating in the U.S. where its sales have decreased by 5% (1% in constant currencies), to under 291 million euros. In contrast, its sales have remained stable at 97 million in Asia-Pacific (+7% in constant currencies) and have increased 3% (4% in constant currencies) to 345 million in Europe, the Middle East and Africa (EMEA). Logically, its ballgame segment, including its baseball brands, has slipped down 5% (-1% in constant currencies) to under 140 million euros. Fitness, on the other hand, has remained stable (+6% in constant currencies) to 84 million and the group's outdoor section has increased 1% (+3% in constant currencies) to 509 million euros. Clothes sales have seen a particularly interesting progression of 5%, thanks largely to Arc'Teryx.
The group has, however, seen its gross margin decrease from 48% to 46.7%, despite the performance of its direct sales. Its operating profit has decreased to 75 million euros, compared to 104 million a year earlier. The group, which achieved 2.6 billion euros in turnover in 2016, maintains its ambition to reach 3.5 billion in 2020.
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