Amer focuses on profit in unpredictable times
Posted by By Gary Roethenbaugh at 5 May, at 00 : 00 AM Print
In its latest interim report, Mavic, Salomon and Suunto brand owner, Amer Sports Corporation, expects the sporting goods market to recover moderately in 2010, but with significant regional and sports category differences.
According to the company, and driven by strong in-season orders in footwear, progress in apparel and footwear was good in the first quarter of 2010. Sports instruments and cycling also improved compared to the weak Q1 2009.
The group strategy is to drive profitable growth. However, in light of the unpredictable market conditions, Amer Sports continues to focus on improving its profitability through improved gross profit and tight cost control.
Strict control over working capital will continue with the notion that improvements similar to the previous year are unlikely. Amer Sports expects its 2010 EBIT (earnings before interest and tax) margin to improve to the mid-single-digit level.
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