HELSINKI, Oct. 9, 2024
/PRNewswire/ -- Amer Sports, Inc. ("Amer Sports"), a global group
of iconic sports and outdoor brands, announced today that its CEO
James Zheng, along with other
members of the Amer Sports management team, attended events with
investors and research analysts in Shanghai, China on October 8, 2024 as part of the company's
commitment to shareholder engagement. During the meeting, Mr. Zheng
provided color on both the Company's long-term growth perspective
for Greater China as well as an
update on sales performance for Greater
China as it relates to Golden Week (October 1, 2024 through October 7, 2024), which followed the
recently-announced government stimulus program.
Amer Sports' Greater China revenue growth exceeded 60%
year-over-year for the seven-day Golden Week period with strength
across the portfolio driven by accelerating store sales at Salomon,
Wilson and Arc'teryx. The Company
continues to see an outsized growth opportunity in China, notably in the outdoor segment, which
has been resilient despite the weak economy.
ABOUT AMER SPORTS
Amer Sports is a global group of iconic sports and outdoor
brands, including Arc'teryx, Salomon, Wilson, Peak Performance, and Atomic. Our brands
are known for their detailed craftsmanship, unwavering
authenticity, and premium market positioning. As creators of
exceptional apparel, footwear, and equipment, we pride ourselves on
cutting-edge innovation, performance, and designs that allow elite
athletes and everyday consumers to perform their best.
With over 11,400 employees globally, Amer Sports' purpose is to elevate the world
through sport. Our vision is to be the global leader in premium
sports and outdoor brands. With corporate offices in Helsinki, Munich, Kraków, New York, and
Shanghai, we have operations in 40+ countries and our products are
sold in 100+ countries. Amer Sports generated $4.4 billion of revenue in 2023. Amer Sports,
Inc. shares are listed on the New York Stock Exchange. For more
information, visit www.amersports.com.
FORWARD LOOKING STATEMENTS
This press release includes estimates, projections, statements
relating to the business plans, objectives, and expected operating
results of the Company that are "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. In many cases, you can
identify forward-looking statements by terms such as "may," "will,"
"should," "expects," "plans," "anticipates," "target," "outlook,"
"believes," "intends," "estimates," "predicts," "potential" or the
negative of these terms or other comparable terminology. These
forward looking statements include, without limitation, guidance
and outlook statements, our long-term targets and algorithm,
statements regarding our ability to meet environmental, social and
governance goals, expectations regarding industry trends and the
size and growth rates of addressable markets, and statements
regarding our business plan and our growth strategies. These
statements are based on management's current expectations but they
involve a number of risks and uncertainties. Actual results and the
timing of events could differ materially from those anticipated in
the forward-looking statements as a result of factors relating to,
without limitation: the strength of our brands; changes in market
trends and consumer preferences; intense competition that our
products, services and experiences face; harm to our reputation
that could adversely impact our ability to attract and retain
consumers and wholesale partners, employees, brand ambassadors,
partners, and other stakeholders; reliance on technical innovation
and high-quality products; general economic and business conditions
worldwide, including due to inflationary pressures; the strength of
our relationships with and the financial condition of our
third-party suppliers, manufacturers, wholesale partners and
consumers; ability to expand our DTC channel, including our
expansion and success of our owned retail stores and e-commerce
platform; our plans to innovate, expand our product offerings and
successfully implement our growth strategies that may not be
successful, and implementation of these plans that may divert our
operational, managerial and administrative resources; our
international operations, including any related to political
uncertainty and geopolitical tensions; our and our wholesale
partners' ability to accurately forecast demand for our products
and our ability to manage manufacturing decisions; our third party
suppliers, manufacturers and other partners, including their
financial stability and our ability to find suitable partners to
implement our growth strategy; the cost of raw materials and our
reliance on third-party manufacturers; our distribution system and
ability to deliver our brands' products to our wholesale partners
and consumers; climate change and sustainability or ESG-related
matters, or legal, regulatory or market responses thereto; changes
to trade policies, tariffs, import/export regulations,
anti-competition regulations and other regulations in the United States, EU, PRC and other
jurisdictions, or our failure to comply with such regulations;
ability to obtain, maintain, protect and enforce our intellectual
property rights in our brands, designs, technologies and
proprietary information and processes; ability to defend against
claims of intellectual property infringement, misappropriation,
dilution or other violations made by third parties against us;
security breaches or other disruptions to our IT systems; changes
in government regulation and tax matters; our ability to remediate
our material weakness in our internal control over financial
reporting; our relationship with our significant shareholders;
other factors that may affect our financial condition, liquidity
and results of operations; and other risks and uncertainties set
out in filings made from time to time with the SEC and available at
www.sec.gov , including, without limitation, our reports on Form
20-F and Form 6-K. You are urged to consider these factors
carefully in evaluating the forward-looking statements contained
herein and are cautioned not to place undue reliance on such
forward-looking statements, which are qualified in their entirety
by these cautionary statements. The forward-looking statements made
herein speak only as of the date of this press release and the
Company undertakes no obligation to publicly update such
forward-looking statements to reflect subsequent events or
circumstances, except as may be required by law.
Contacts
Investor Relations:
Omar Saad
Vice President, Finance and Investor Relations
omar.saad@amersports.com
Media:
Reeta Eskola
Director, Reputation Management
Reeta.Eskola@amersports.com
Source: Amer Sports, Inc.
View original
content:https://www.prnewswire.com/news-releases/amer-sports-provides-business-update-302271132.html
SOURCE Amer Sports, Inc.