Amer Sports Inc. rose after the sporting goods company lifted its sales outlook for the quarter, citing strong momentum at its Salomon and Arc’teryx brands.
The boost marks a reversal of sentiment for its Arc’teryx brand — part of the conglomerate’s technical apparel unit — which saw sales growth drop to the slowest pace on record last quarter.
Chief Executive Officer James Zheng said in a statement that third-quarter results, which close on Sept. 30, will be “led by continued exceptional growth from Salomon Softgoods and an Arc’teryx reacceleration.”
Shares rose as much as 4.6% in premarket trading.
Amer Sports now projects revenue growth in the high 20% range, compared with its earlier forecast of approximately 20%. It also expects its adjusted operating margin to meet or exceed t