All Amer Sports articles – Page 4
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ArticleArc’teryx aims for Fair Trade certification
With a goal of having 80 percent of its products certified by Fair Trade USA by 2025, Arc’teryx has announced plans to convert three production facilities in Vietnam to Fair Trade CertifiedTM in the coming year. The move comes as part of the company’s response to the global garment workers’ ...
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Article
Anta’s president will run Amer Sports
Jie (James) Zheng, executive director and president of Anta Sports Products, is taking over the responsibilities of Heikki Takala, who has decided to resign from his role as president and chief executive of Amer Sports after ten years in the position. Takala, a former commercial director of Procter & Gamble, ...
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ArticleAnta switches to new DTC business model in China
The pandemic has been a catalyst for change across many companies this year, including at Anta Sports Products. It has decided to do away with the wholesale model that it employed for 20 years in 11 major provinces. Instead, the Chinese sports group will switch to a new business model ...
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News briefs
Anta and the WWF agree to international partnership
The Anta Group has announced a new agreement with the World Wide Fund for Nature (WWF) that engages both parties to jointly invest more resources on sustainable environmental development, drive the sustainability transformation of the textile industry and enhance biodiversity conservation. Based on a three-year collaboration framework, the two parties ...
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Article
Moody’s and S&P forecast 15% sales decline at Amer Sports
In a new report, rating agencies Moody’s and S&P reveal that Amer Sports’ revenues fell by 36 percent in the second quarter and by 22 percent in the first half, hampered by the impact of the pandemic. Ebitda was a loss of €26 million for the first half, against a ...
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ArticleAnta Sports issues warning on first-half profits
Anta Sports Products said it expects to report a drop of about 25 percent in its earnings for the first half of this year, largely as a result of restrictions implemented during the Covid-19 crisis. They are even expected to be down by 35 percent from the year-ago period when ...
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Article
Moody’s is pessimistic about Amer’s outlook
Moody’s downgraded its ratings for Amer Sports’ debt to the lowest level possible, issuing a pessimistic short-term outlook for the company, acquired a year ago by Anta Sports Products and other investors. Moody’s expects a 20 percent decline in the group’s revenues this year, noting that its products are subject ...
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ArticleAnta has a strategy for loss-making Amer
(SGI) Anta Sports Products reported a 30.3 percent increase in net income to 5,344 million yuan renmimbi (€695.4m-$752.2m) for 2019, while revenues increased by 40.8 percent to RMB 33,927 million (€4.4bn-$4.5bn). The gross margin and the operating margin reached a five-year high, but the net profit margin fell to record ...
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ArticleChange of the guard at Salomon
Michael White, the current 55-year-old chief commercial officer of Amer Sports, is going to take the place of a company veteran, Jean-Marc Pambet, as president of the Salomon brand on Jan. 1. Pambet will be working closely with White for the next couple of months to ensure a smooth transition ...
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