Amer Sports misses expectations in Q1, shares fall
HELSINKI, April 24
HELSINKI, April 24 (Reuters) - Finnish sporting goods company Amer Sports on Thursday reported its first-quarter operating profit fell 22 percent from a year ago as the warm weather hit winter-sport equipment sales.
Amer Sports, the maker of Wilson tennis rackets and Salomon skis, said its January-March quarter adjusted operating profit decreased to 20.6 million euros ($28.5 million), down from 26.4 million euros a year earlier and well below the market's average forecast of 29 million euros in a Reuters poll.
The company repeated it expected its profit to increase this year.