Amer Sports profit surges 257% as China sales boom
Amer Sports, the parent company of Arc’teryx, has announced its latest financial results. For the third quarter ending September 30, the group reported a 17% YoY increase in revenue to $1.35 billion and a 257% surge in profit to $56 million. Gross margin improved by 420 basis points to 55.2%. Regionally, revenue in China surged by 56%, marking the largest growth market, while revenue in the EMEA region increased by 4% to $430 million, and in the US market, it rose by 7% to $490 million. Excluding China, revenue in the Asia-Pacific market grew by 47% to $130 million. By channel, retail revenue soared by 41% to $480 million, while wholesale revenue grew by 8% to $870 million. The company expects full-year revenue to increase by 16% to 17%.