Arc’teryx & Salomon Owner Amer Sports Raises Guidance For Fiscal 2024

Amer Sports have reported a revenue increase of 34% for their ‘Technical Apparel’ category, which includes Arc’teryx, for Q3 2024.

Founded in Finland in 1950, Amer Sports is a sporting equipment company that owns Arc’teryx, Salomon, Peak Performance & Wilson to name a few with a global mission to “elevate the world through sport”. Earlier in the year back in February 2024 the Helsinki based multi-national company went public and was listed on the New York Stock Exchange raising $1.4 billion for its initial offering with a company value of $6.5 billion. Its original purchase of Arc’teryx back in 2005 has seen the Finish company become a global innovator in performance apparel. After reporting a 16% increase in sales for Q2 2024, Amer Sports have now also reported strong quarterly sales for Q3 2024 with a revenue increase of 17% to $1,354 million.

The outdoors performance brand, Arc’teryx, continues to be the top performer for Amer Sports, and still one of probably the most popular GORE-TEX products on the market at the moment. With accelerated growth in North America & EMEA, Amer Sports ‘Technical Apparel’ category, which includes Arc’teryx, increased by 34% to $520 million & the outdoor performance category, which includes Salomon, increased by 8% to $534 million.

 

 

Amer Sports also raised its full fiscal 2024 guidance after the strong Q3 results with expected revenues to grow between 16% & 17%. EPS (earnings per share) are now expected to be between $0.43 & $0.45. Overall revenues for the ‘technical apparel’ category are expected to grow 34% & the outdoor performance category to 8%. It was also announced that Guillaume Meyzenq will replace Franco Fogliato as president & CEO of Salomon on January 1st 2025.

Led by Arc’teryx, our unique portfolio of premium technical brands continues to create white space and take market share in sports and outdoor markets around the world. We are executing against our largest growth opportunities in Arc’teryx and Salomon footwear, while our market-leading Ball & Racquet franchise experienced a growth acceleration.

James Zheng – Amer Sports CEO