Amer Sports (NYSE:AS) reported a "breakout year" for 2025, with fourth-quarter revenue surging 28% to $2.1 billion.
The results were powered by a dominant performance from its flagship brand, Arc’teryx, and its "rising star" Salomon, which officially surpassed $2 billion in annual sales.
The company achieved 27% revenue growth for the full year, supported by double-digit expansion across every geographic region, channel, and segment.
Its Technical Apparel division—home to Arc’teryx—led the charge with 34% growth, while the Outdoor Performance segment rose 29%, bolstered by strong footwear sales and winter sports equipment.
Despite the top-line success, fourth-quarter operating margins narrowed by approximately 100 basis points.
Management attributed the dip to accelerated investments in selling, general, and administrative (SG&A) expenses, particularly to capture growth in Salomon’s apparel and "softgoods" categories.
However, for the full year, operating margins expanded by more than 150 basis points, reflecting the company’s increasing scale.