Amer Sports Net Dips on Restructuring Spending
Net income declined 28% to €50.6 million ($59.5 million) from €70.5 million, pulled down by €31.3 million in charges related to its expanded restructuring plan as sales slipped slightly to €733.2 million ($861.6 million) from €736.8 million in the third quarter. In local currencies, sales gained 3% in the quarter, with EMEA leading all regions with 3% sales growth to €345.2 million, Asia Pacific flat at €97.4 million and the Americas down 5% to €290.6 million. Gross margin was off 130 basis points to 46.7% with foreign exchange headwinds only partially offset by higher margin DTC sales. Operating expense efficiencies ... Log in to view full article.