Amer winter and outdoor division "better than expected"
05/02/2009
Financial analyst firm Standard & Poor's (S&P) has said the ski division of Finnish sports equipment group Amer Sports was a highlight in otherwise disappointing set of financial results for 2008.
The company, whose global brands include Salomon, Wilson, Precor, Atomic, Suunto, Mavic and Arc’teryx, achieved full-year sales of just over €1.5 billion, with a drop of 5% compared to 2007.
S&P said the group's winter and outdoor sports division had recovered towards the end of the year and that this was a positive point, in spite of being offset by what it called "a significantly worse performance" in its fitness division.
In a statement, S&P said: We are encouraged by the strength in this division (winter and outdoor), attributable to favourable snow conditions. [However] retailers are negative regarding the outlook for the market, and are therefore not willing to take on the risk of heavily stocking."
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