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Amer Sports sales up 5% through Q3, starts process of selling Mavic and Enve

Published October 25, 2018

HELSINKI (BRAIN) — Amer Sports reported net sales increases of 9 percent for its third quarter and 5 percent year-to-date, compared with the same periods last year. 

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The company said it's continuing to see growth in softgoods with its Arc'teryx and Peak Performance brands. 

Amer is no longer including its cycling business for 2017 and 2018 in its overall business figures since it has started the formal process of looking for a buyer for the brands. The cycling business, through the Mavic and Enve brands, is now counted as "discontinued operations" in accordance with reporting standards, the company said. 

Besides looking to sell the bike brands, Amer is also dealing with a potential purchase bid from China's Anta Sports Products and a partner investment firm. The company did not mention the Anta bid in a press release Thursday announcing the third-quarter earnings. A conference call with investors was planned for later Thursday. BRAIN will update this article following the call. 

 

Topics associated with this article: Earnings/Financial Reports

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