HELSINKI, Finland (BRAIN) — Sales in Amer Sports' cycling division, which comprises Mavic and Enve, were down 10 percent through the first nine months of the company's fiscal year, and down 8 percent in the third quarter. The company said its bike-related sales were hurt by high OEM and retail inventories.
Amer's cycling division racked up sales of 100.6 million euros ($118 million) in the nine-month period, down from 112 million euros in the same period in 2016. The company does not release separate sales performance data for the two brands.
Amer had slightly better news to report in most of its other categories. Net sales were up 3 percent in local currencies in the outdoor division, which includes cycling, sports instruments (Suunto), outdoor clothing (Arc’teryx) and outdoor footwear. Net sales in Amer's ball sports division were down 1 percent. Net sales in its fitness division were up 3 percent.
Across all its categories, Amer recorded net sales of 1.882 billion euros, a net increase of 2 percent in local currencies.
In a statement Thursday, Heikki Takala, Amer's president and CEO, said the growth, though small, was "broad-based, and in line with our strategy, driven again by apparel, own retail, e-commerce and China. Encouragingly, we continued to gain speed in fitness, and we laid foundation for a rebound in sports instruments as we rolled out the complete (Suunto) Spartan product family. We made again significant progress in the company omni-channel transformation to win in the changing market place. We executed the announced restructuring, and we are already delivering significant cost efficiencies, ahead of schedule."
