Amer Sports Q2 loss widens

Sports equipment maker Amer Sports sees Q2 loss widening; growth seen in sports clothing

Associated Press

HELSINKI (AP) -- Global sports equipment maker Amer Sports Corp., whose brands include Atomic, Salomon and Wilson, says its net loss widened in the second quarter mainly due to heavy investments into its retail operations.

The Helsinki-based company says net loss in the period was €22.4 million ($26.4 million) compared with a loss of €12.6 million a year earlier. Sales rose 12 percent to €353.8 million, boosted by the opening of some 20 new retail sites and 20 online stores.

CEO Heikki Takala said Thursday that while the investments "admittedly burden the seasonally low second quarter", they will enable the company to exceed the "milestone" sales of €2 billion for the full year 2012.

The company gave mixed outlook saying highest growth was expected in sports clothing sales while pre-orders for its winter sports equipment were down 13 percent due to the previous mild winter.

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