Amer Sports – the Finnish conglomerate that owns Salomon, Arc’teryx, Wilson – has raised its guidance for 2024 after surpassing its initial expectations for Q2.
The company reported a 16% increase in sales since the same period last year, equating to $994 million USD. Analysts had previously forecast a growth of 10% in the company’s revenue.
Amer Sports attributed its successful Q2 to technical apparel sales, for which revenue was up 34%, coming out to $407 million USD. The outdoor performance sector was also a driving force, equating to $304 million USD, an 11% increase.
“I am very pleased by our financial and operational performance in the second quarter of 2024. Our unique portfolio of premium technical brands is taking share in sports and outdoor markets all around the world,” CEO James Zheng said. “Led by our flagship Arc’teryx brand, we well exceeded our own high expectations on all key financial metrics, positioning us to deliver another strong year in 2024.”