Amer Sports(US:AS) Zheng Quan Shi Bao Wang·2025-08-25 08:17Core Insights - Amer Sports reported Q2 2025 revenue of $1.236 billion, a 23% year-over-year increase, and a net profit of $18.2 million, compared to a loss of $3.7 million in the same period last year, indicating a successful turnaround [1] - The company raised its full-year guidance, expecting a revenue growth of 20%-21% for FY 2025, driven by strong performance across its premium outdoor functional apparel brands [1] Business Segment Performance - The outdoor functional apparel segment achieved a revenue of $509 million in Q2, reflecting a 23% year-over-year growth, with Arc'teryx showing strong performance across all regions and channels [1] - Arc'teryx footwear was the fastest-growing category, with triple-digit growth last year, and the women's category also saw double-digit growth across all regions [1] - The mountain outdoor apparel and equipment segment grew by 35% to $414 million, primarily driven by the growth of Salomon footwear and apparel, with significant acceleration in all regions [2] - Salomon's direct-to-consumer (DTC) channel grew by 63%, supported by strong performance in the Greater China and Asia-Pacific regions [2] - The ball and racquet equipment segment grew by 11% to $314 million, led by the Wilson Tennis 360 strategy, with strong sales of the RF Classic series [2] Store Expansion and Strategy - Arc'teryx added a net of 7 stores in Q2 (12 opened, 5 closed), reflecting ongoing optimization of its store network quality and efficiency [3] - The company plans to add approximately 25 stores globally in 2025, focusing on high-quality locations, particularly in North America [3] - Salomon added 16 stores in the Greater China region, bringing the total to 234, with a potential to expand to hundreds of stores in the long term [3] - Wilson plans to open about 50 new Wilson Tennis 360 stores in China this year, indicating strong market performance [3]