HELSINKI, Finland (BRAIN) — Mavic sales slumped 5 percent in the second quarter, a decline parent company Amer Sports attributed to a late start to the cycling season in the U.S. and Central Europe.
Amer — which also owns the Salomon, Wilson, Atomic, Arc’teryx, Suunto and Precor brands — reported Thursday that its cycling sales in April, May and June totaled $36.6 million, down from $39 million in the same period last year.
The soft second quarter contributed to a first half sales decline of about 1 percent; Mavic sales were up about 1 percent in the first quarter.
Overall, Amer's sales were up 9 percent in the quarter to 377.2 million euros ($498 million) and are up 5 percent for the first half of the year. The company did not adjust its outlook for the entire year, sticking to its earlier prediction of 5 percent growth.
"We delivered a solid quarter with several categories achieving double-digit growth, despite challenging trading conditions especially in Western Europe," Heikki Takala, Amer's president and CEO, said in a company statement.
"Second quarter, however, is traditionally a low quarter for Amer Sports, representing less than 20 percent of our full-year sales. Through the portfolio, we mitigated the late and cold spring/summer which impacted adversely especially Wilson's Individual Ball Sports (stable) and Cycling (-5 percent)," he said.
Amer's fitness sales, primarily through the Precor brand, showed the biggest improvement in the quarter, up 14 percent. The Wnter and Outdoor division, which includes the Mavic cycling business, was up 12 percent. Mavic's soft sales were more than offset by Suunto's sales of sports instruments, up 31 percent, and apparel and footwear sales, which were up 22 percent and 17 percent, respectively.
Amer is traded on the NASDAQ OMX Helskinki exchange under the AGPDY symbol.
