Finnish sports conglomerate Amer Sports said sales at its Arc’teryx and Salomon brands grew by double-digit percentages, helping the company narrow its losses and beat Wall Street revenue expectations.
Amer reported revenue of $994 million for the quarter ended July, up 16 percent from the same period last year.
The company also credited heightened demand in China for driving “exceptional growth and profitability” for Arc’teryx.
Net losses were $4 million, a 98 percent decline from the same period in 2023.The company’s shares were up as much as 13 percent on Tuesday.
Learn more:
Why Salomon-Owner Amer Sports’ IPO Fell Short
After discounting its listing, the sportswear group, which also owns Arc’teryx and Wilson, became the latest big fashion company to confront the tepid US IPO market.
