“炸山”风波后，始祖鸟母公司亚玛芬大中华区业绩依然狂飙

Core Insights - Amer Sports reported a strong performance in Q3 of FY2025, with revenue increasing by 30% year-over-year to $1.756 billion and adjusted net profit rising by 161% to $185 million [1] - The company emphasized its unique high-end professional brand portfolio, which is expanding in the global sports and outdoor market, with all three business segments performing well [1][4] Revenue Breakdown - The technical apparel segment led by Arc'teryx saw a revenue increase of 31% to $683 million [1] - The outdoor performance segment centered around Salomon grew by 36% to $724 million [1] - The ball sports and racquet sports segment led by Wilson increased by 16% to $350 million [1] Channel Performance - Direct-to-Consumer (DTC) channel revenue surged by 46%, with DTC revenue for Salomon specifically skyrocketing by 67% [1][4] - Omnichannel growth rebounded to 27% from 15% in the previous quarter, while wholesale channel revenue grew by 11% [1] - The total number of Amer Sports-owned stores reached 631, a 39% increase year-over-year [1] Market Strategy and Future Outlook - Amer Sports plans to strengthen its presence in China, North America, and Europe, aiming for five "€1 billion" strategies to establish global leadership in key segments [12] - The company raised its full-year revenue guidance from 20%-21% to 23%-24%, with adjusted EPS expectations increased to $0.88–$0.92 [10] - The CFO expressed confidence in achieving double-digit sales growth annually through 2026 [12] Regional Performance - Revenue growth in the Greater China region reached 47%, up 5 percentage points from the previous quarter, while the Asia-Pacific market saw a 54% increase [7] - The EMEA market grew by 23%, and the Americas experienced an 18% growth [7] Brand Development - Arc'teryx is expanding its women's product line, with a 40% growth in Q3, and aims to increase the share of women's business in global revenue from 25% in 2025 to 30% by 2030 [5] - The company is also focusing on enhancing the color palette and selection of women's products in stores [5]