NEWS

Finland's Amer Sports posts smaller Q2 loss, keeps outlook

Thursday, Jul 30, 2015

Finnish sporting goods maker Amer Sports, known for Wilson tennis rackets and Salomon skis, on Wednesday reported a smaller loss in its seasonally-slow second quarter than a year ago, helped by acquisitions and cost cuts.

Core operating loss stood at 9 million euros ($10 million), compared to a loss of 18 million a year ago and a loss of about 10 million euros expected by analysts in Reuters poll.

Amer repeated its full-year guidance of improving sales and core operating profit margin.

The firm's recent acquisitions include baseball brand Louisville Slugger and digital sports application Sports Tracker, and on Wednesday, Amer said it was also buying fitness company Queenax.

Shares in the company were up 1.3 percent after the report.

 

reuters.com

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