Financial Data and Key Metrics Changes - Amer Sports reported a 27% revenue growth in 2025, reaching $6.6 billion, with an adjusted operating margin expansion of 170 basis points to 12.8% [4][17] - In Q4, sales grew by 28%, with adjusted net income increasing to $176 million from $90 million in the prior year, resulting in adjusted diluted earnings per share of $0.31 compared to $0.17 last year [4][21] - Adjusted gross margin increased by 140 basis points to 57.8% in Q4, while adjusted operating margin declined by 110 basis points to 12.5% due to higher SG&A investments [19][20] Business Line Data and Key Metrics Changes - Technical apparel revenues increased by 34% to $1 billion, driven by Arc'teryx, with a strong omni-comp growth of 16% [21][24] - Outdoor performance segment revenues grew by 29% to $764 million, led by Salomon footwear and apparel, with D2C growth of 55% [24][29] - Ball and racket segment revenue increased by 14% to $337 million, driven by strong performance in softgoods and baseball [30][31] Market Data and Key Metrics Changes - Asia Pacific region led growth with a 53% increase, followed by Greater China at 42%, EMEA at 21%, and the Americas at 18% [18] - Salomon experienced strong double-digit growth in Greater China, Korea, and Japan, indicating a rising demand in these sneaker markets [12][13] - The company opened 33 net new Salomon shops in Greater China in Q4, contributing to a total of 286 stores [25] Company Strategy and Development Direction - The company aims for strong and profitable growth in the premium sports and outdoor markets, leveraging its unique portfolio of brands [5] - Investments are being made to support Salomon's growth, particularly in the sneaker market, which is still a small share of the global market [5][11] - The company plans to open 25-30 new Arc'teryx stores in 2026, focusing on North America and China [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the outlook for 2026, expecting reported group revenue growth between 16% and 18% [38] - The company anticipates continued momentum from Arc'teryx and accelerating growth from Salomon softgoods [38] - Management noted that the outdoor performance segment is expected to return to modest year-over-year margin expansion in Q1 2026 [42] Other Important Information - The company announced the appointment of Carrie Ask as the next President and CEO of Wilson brand, effective March 1st [16] - Corporate expenses are expected to increase by approximately $50 million due to cost reallocations from segments [37] - The company plans to continue its epicenter strategy in key markets, including New York, Los Angeles, and Miami [28] Q&A Session Summary Question: Inquiry about fourth quarter gross margin and Salomon investments - Management explained that the fourth quarter gross margin was affected by the strong performance of lower-margin winter sports equipment and the anniversary of a cost optimization program [46][50] - Investments in Salomon were made to capitalize on strong momentum, with expectations for moderate margin growth in Q1 [51][52] Question: Current momentum entering Q1 and opportunities for Salomon - Management highlighted strong trends across all regions, particularly in North America, and emphasized the potential for Salomon to capture market share through its epicenter strategy [68][72] Question: Wholesale expansion opportunities in the U.S. for Salomon - Management indicated that Salomon's wholesale growth is expected to complement DTC growth, with plans to add new wholesale partner doors for Arc'teryx [82]