Financial Data and Key Metrics Changes - Amur Sports reported a 23% sales growth in Q2 2025, or 22% excluding currency impact, with an adjusted operating margin increase of 260 basis points [6][31][34] - Adjusted net income for Q2 was $36 million, compared to $25 million in the prior year, with adjusted diluted earnings per share rising to $0.06 from $0.05 [35][36] Business Line Data and Key Metrics Changes - Technical Apparel revenues increased by 23% to $509 million, driven by a 31% expansion in direct-to-consumer (D2C) sales [36][37] - Outdoor Performance segment saw revenues rise by 35% to $414 million, with D2C growing 63% [39] - Ball and Racket segment revenue increased by 11% to $314 million, supported by strong performance in racket sports and soft goods [42] Market Data and Key Metrics Changes - Asia Pacific region led growth with a 45% increase, followed by China at 42%, EMEA at 18%, and The Americas at 6% [32] - The Americas' growth deceleration was attributed to normalizing growth in the ball and racket segment and a tougher comparison due to shipment shifts [32] Company Strategy and Development Direction - The company aims to optimize its retail footprint in Greater China, focusing on high-quality locations rather than rapid expansion [13][14] - Amur Sports is confident in its ability to manage through tariff scenarios due to its premium brands and pricing power [7][29] - The company plans to open approximately 25 net new stores globally in 2025, with a focus on North America [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory, citing strong brand momentum and a unique portfolio of premium brands [5][8] - The company raised its full-year revenue growth guidance from 15%-17% to 20%-21%, reflecting strong Q2 performance and ongoing momentum [49][50] Other Important Information - The company received $19 million in government grants, benefiting its adjusted operating margin by approximately 150 basis points in Q2 [34] - Amur Sports ended the quarter with $640 million in net debt, maintaining a healthy balance sheet to navigate external uncertainties [45] Q&A Session Summary Question: Can you elaborate on the momentum in the third quarter and the growth drivers for Solomon? - Management noted strong Q2 results and continued momentum into Q3, particularly for Solomon footwear, driven by new product introductions and a unique outdoor sneaker category [56][57] Question: What are the next growth levers for the Solomon brand? - Management highlighted the strong growth pattern in Solomon, particularly in China and Asia Pacific, and plans to open additional stores in the U.S. [62][63] Question: What type of price increases are being implemented to mitigate tariffs? - Management indicated that while Wilson has seen approximately 10% price increases, Solomon and Arcterix have not yet needed to raise prices due to their pricing flexibility [69][70] Question: How are full-price stores performing compared to outlet stores? - Full-price stores are performing robustly, with a mid-single-digit drag from outlet sales declines, indicating a shift towards a healthier full-price business [73][74] Question: What is the outlook for the women's business at Arcterix? - The women's business saw over 30% revenue growth in Q2, with specific models performing exceptionally well, indicating a strong product strategy [84][85]

Group 1 - The recent executive changes at Amer Sports include the appointment of Ma Lei as the new president for China, succeeding Yao Jian, who will take on a global role at the acquired brand Jack Wolfskin [1][2] - Ma Lei has a diverse background in both international and local brands, which aligns with Amer Sports' strategy of localized operations in China [2][3] - Under Yao Jian's leadership, Amer Sports saw significant revenue growth, with total revenue increasing from $2.446 billion to $5.183 billion from 2020 to 2024, and the Greater China region's revenue rising from $202 million to $1.298 billion [3] Group 2 - Amer Sports is focusing on expanding its presence in first-tier and new first-tier markets, leveraging the strengths of its agents, particularly through partnerships with companies like Tmall and JD.com [2][3] - The company faces challenges as the outdoor performance segment, particularly Salomon, has shown only single-digit growth, while the technical apparel segment has seen a minimum growth of 23% [5][7] - The competitive landscape is becoming more crowded, with high-end sports brands losing their scarcity, necessitating a shift in marketing strategies to maintain consumer interest [7][8] Group 3 - Amer Sports aims to diversify its growth by enhancing the performance of brands like Wilson, Peak Performance, and Atomic, which are still in the early stages in the Chinese market [7][8] - The company is expected to achieve a revenue growth forecast of 15% to 17% for the year, with functional apparel sales projected to grow by 20% to 22% [8]