1.82%Amer Sports latest financials finish off 2024 with a bang thanks to the French outdoor performance brand, Salomon, which topped $1 billion in sales for the year.
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”. 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. Yesterday the sporting equipment company released its latest financials for Q4 2024, which saw Salomon topping $1 billion in sales for the full fiscal year. Stock in Amer Sports (AS) took a slight dip of 2% in late afternoon trading yesterday as speculation around a stronger dollar that could potentially affect the companies 2025 sales outlook which now stands as a slightly lower 13-15% compared to the previous revenue growth of 18% for 2024.
Q4 2024 sales were boosted by strong performances in Arc’teryx jackets & Salomon’s trailer ready sneakers such as the XT-6 GORE-TEX silhouette. Overall sales for the quarter were up 23% to $1.64 billion compared to the same period last year. Revenue for the year was $5.18 billion which included a significant increase in the sale of Salomon shoes which topped $1 billion as the whole outdoors “Gorpcore” trend reached new global audiences. Overall sales in Arc’teryx for 2024 were $2 billion. Regionally Amer Sports saw its biggest growth in China with Q4 2024 sales in China up by over 50%. In America revenue grew by 15% for the quarter. Also don’t forget to subscribe to Sneaker Jobs & follow @sneaker_jobs to keep up to date with all the latest industry news.
The outdoor trend in China continues to be very strong, attracting younger consumers, female consumers, and even luxury shoppers. In an environment where many shoppers have cut back on non-essential spending due to high inflation, Amer’s core customers around the world are pretty resilient. Raising prices has not been a lever that we are pulling. We do believe we have pricing power and we will continue to price competitively… but at the same time we do not want to detract our core consumer.
Andrew Page – Chief Financial Officer Amer Sports
