Amer Sports’ Loss Grows in Q2
Net loss in Amer’s seasonally smallest quarter expanded to €24.0 million ($28.0 million) from a loss of €14.7 million on 2% higher revenues at €487.3 million ($568.6 million) from €477.4 million. Gross margin slipped 20 basis points to 45.5% on negative ForEx. The loss included the final €2.0 million of expenses from the restructuring program initiated in 2016. All the sales growth came from Amer’s own DTC efforts, which were up 25% with +7% same store sales, and third party online sales. Wholesale was down, especially in the U.S. given the reduced retail footprint following last year’s bankruptcies.
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