Amer Sports Inc. shares declined after the company said one of its key divisions reported its weakest sales growth to date. The Technical Apparel division — which includes luxury outerwear brand Arc’teryx — reported a 25% revenue gain in the second quarter, as expected by analysts. Although still robust, the rate of growth has been slowing and is likely to decelerate further, the company’s report said.
The main drag on the segment was omni-channel comparable sales — revenue from company-operated stores and e-commerce sites that have been open at least 13 months. Those sales increased 15% in the quarter, below the 19% growth Wall Street was expecting.
Even as the slowdown shows signs of taking hold, the Finland-based sporting goods behemoth remained bullish on its prospects, boosting its full-year revenue guidance for the second time this year. The firm now sees full-year sales rising up to 21%, from an earlier 15%–17% forecast, helped in part by positive currency trends.
