HELSINKI, FINLAND -- Fitness sales (home and commercial) for Amer Sports Oyj, the parent company of Precor, were EUR52.6 million ($73.7 million) for the third quarter 2010, a 7 percent increase from the same time last year.
For the Americas region, fitness sales were EUR35.3 million ($49.5 million) in third quarter 2010, an increase of 1 percent from the same period a year ago. Despite the improvement, sales were still lower than the EUR55 million ($77 million) the company had in third quarter 2008.
For the year to date, sales for Amer Sportâ€™s fitness group was EUR145.2 million ($203.5 million), an increase of 4 percent for the same period last year when sales were EUR135.2 million ($189.5 million). Sales in the Americas for year to date actually dropped 1 percent to EUR100.6 million ($141 million).
â€śCommercial business tends to be up in all regions,â€ť Heikki Takala, president and CEO of Amer Sports, said about the fitness part of Amerâ€™s business during a conference call last week with analysts. â€śHowever, the premium equipment home sales, consumer sales continues to be slow and sluggish.â€ť
When asked whether the confidence of institutional fitness customers had increased, Takala said that he has now seen a couple of quarters with stable sales and a slight improvement.
â€śThe confidence is returning little by little, but we can say that itâ€™s still not at a reliable level where we can see that itâ€™s clearly picking up,â€ť he said. â€śThatâ€™s why I was quoting some volatility is likely to continue. However, we do believeâ€¦the bottom has been reached, and we expect stable market conditions.â€ť
Overall for Amer Sports, net sales were up 5 percent over a year ago. Amer Sports owns the Salomon, Wilson Atomic, Suunto, Mavic and Arcteryx brands in addition to Precor.
(Editorâ€™s note: Conversion of euros to U.S. dollars was based on the currency rate as of Nov. 2, 2010.)