Q2 2025 Amer Sports Inc Earnings Call Transcript
Key Points
- Amer Sports Inc (AS) reported a strong 23% sales growth in Q2 2025, with a 22% increase excluding currency impacts.
- The company expanded its adjusted operating margin by 260 basis points, driven by strong performance in Outdoor Performance and Technical Apparel segments.
- Arc'teryx and Salomon brands showed significant momentum, with Arc'teryx achieving a 15% omni-comp growth and Salomon experiencing a global acceleration.
- Direct-to-consumer (DTC) channels grew by 40%, led by Salomon in Greater China and APAC, as well as Arc'teryx globally.
- Amer Sports Inc (AS) raised its full-year revenue and EPS expectations, reflecting confidence in managing tariff impacts and continued operational momentum.
- Higher tariffs, particularly in the Ball & Racquet segment, are expected to have a slightly higher impact than previously anticipated.
- The Americas region showed slower growth at 6%, attributed to normalizing growth in Ball & Racquet and a tougher comparison due to prior year shipment shifts.
- Inventory levels increased by 29% year-over-year, driven by early receipt of merchandise and higher goods in transit, which may pose challenges if not managed effectively.
- The Ball & Racquet segment's long-term growth is expected to slow to low to mid-single digits, despite current solid performance.
- The company faces ongoing challenges in managing outlet sales, which have been a drag on overall comp performance for Arc'teryx.
Thank you for standing by, and welcome to the Amer Sports second quarter Fiscal 2025 earnings conference call. (Operator Instructions) Thank you.
I'd now like to turn the call over to Omar Saad, SVP, Capital Markets and Investor Relations. You may begin.
Welcome, everyone. Thanks for joining Amer Sports earnings call for the second quarter of fiscal year 2025. Earlier this morning, we announced our financial results for the quarter ended June 30, 2025, and the release can be found on our IR website, investors.amersports.com.
A quick reminder to everyone that today's call will contain certain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements reflect our current expectations and beliefs only. They are subject to certain risks and uncertainties that cause actual results to differ materially. Please see the safe harbor statements in our earnings release and SEC filings.
We will
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