Amer’s cycling division sales down 13% in first half

By Stephen Frothingham

HELSINKI (BRAIN) — Amer Sports, owner of Enve and Mavic, reported Thursday that sales in its cycling division were down 13 percent in the first half of 2018, to 60 million euros ($70 million). In the second quarter, sales in the division were down 11 percent.

Cycling continued to be adversely impacted by lower OEM orders and low demand in wholesale channel,” the company said.

Across all its divisions, Amer’s first half sales were up 2 percent, to 1.1 billion euros. Second quarter sales also were up 2 percent.

Amer’s president and CEO, Heikki Takala, said, “Q2 is our smallest quarter, during which we prepare for the significantly bigger H2.”

“Our initiative pipeline is robust, and we expect strong growth in Arc’teryx, winter sports equipment, sports instruments, and fitness.”

Amer will hold an investor conference call later Thursday.

The company’s brands include Salomon, Arc’teryx, Peak Performance, Atomic, Mavic, Suunto, Wilson and Precor. Amer Sports shares are listed on the Nasdaq Helsinki stock exchange (AMEAS).

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Via:: Bicycle Retailer and Industry News