Amer Sports’ direct-to-consumer revenue increased 39.9% year over year to $896.8 million in Q2 2026, pushing DTC to approximately 55% of total quarterly revenue as the owner of Arc’teryx, Salomon and Wilson continues expanding its directly controlled retail and e-commerce channels.
Wholesale revenue also grew strongly, increasing 23.6% to $735.8 million from $595.4 million, but DTC expanded considerably faster. Total quarterly revenue increased 32.1% to approximately $1.63 billion from $1.24 billion.
The shift is being supported by rapid physical retail expansion. Amer Sports ended June with 757 owned stores, up 39% from 546. Technical Apparel stores increased 34% to 305, Outdoor Performance stores rose 39% to 355 and Ball & Racquet locations increased 54% to 97.
Growth was not limited to new stores. Omni-comp revenue increased 17% in Technical Apparel, 28% in Outdoor Performance and 22% in Ball & Racquet, indicating strong growth across stores and e-commerce sites operating for at least 13 months.
All three operating segments delivered substantial revenue growth. Technical Apparel, led by Arc’teryx, increased 32% to $674 million. Outdoor Performance rose 37% to $569 million, driven by Salomon, while Ball & Racquet Sports increased 24% to $390 million.
Profitability increased even faster than revenue, although tariff refunds materially affected the comparison. Gross margin expanded 710 basis points to 65.6%, including a 390-basis-point benefit from net tariff refunds. Adjusted gross margin reached 65.8%, with the same tariff benefit.
Operating profit increased 339% to $192 million, while adjusted operating profit rose 209% to $208 million. Adjusted operating margin expanded to 12.8%, including a 390-basis-point benefit from net tariff refunds.
Net income attributable to equity holders increased 489% to $107 million, while adjusted net income rose 252% to $127 million. Amer Sports said reported net income included a $50.1 million benefit from tariff refunds after accounting for the release of capitalized tariff costs, inventory reserves and estimated vendor reimbursements.
The company ended the quarter with $720 million of cash and $573 million of net cash. Inventory increased 19% year over year to approximately $1.90 billion as Amer Sports expands its store footprint and supports continued growth across its major brands.
Following the quarter, Amer Sports raised its full-year outlook. It now expects approximately 24% reported revenue growth, gross margin of 60.5% to 61%, adjusted operating margin of 14.2% to 14.5% and diluted adjusted EPS of $1.27 to $1.30.
The DTC expansion gives Amer Sports greater direct control over merchandising, customer relationships and pricing while increasing the importance of retail execution to the group’s overall results. With DTC already representing more than half of quarterly revenue, new stores and existing-store productivity are becoming increasingly important drivers of the company’s growth.
KEY QUOTES:
“Our global momentum continued through the second quarter with over 30% revenue growth and strong operating margin expansion. All segments, geographies, and channels achieved strong double-digit growth led by another exceptional quarter from Salomon Softgoods, a strong Arc’teryx omni-comp, and a Wilson Tennis 360 acceleration.
Given the broad-based momentum across our portfolio, the healthy and growing premium sports and outdoor market, and the world class teams we have in place around the world, I am very confident in the future outlook for Amer Sports.”
James Zheng, Chief Executive Officer of Amer Sports
“We had another great financial performance in the second quarter across the P&L, with strong sales, margins, and EPS. The investments we have been making are paying off in the form of strong momentum across our three largest opportunities: Arc’teryx, Salomon Softgoods, and Wilson Tennis 360. And we will continue to reinvest behind these early-stage growth engines to ensure high quality long-duration growth and strong brand equity over the long term.
Looking ahead, the strong position of our brands, great execution by our teams, and healthy demand trends in the market, give us the confidence to raise our full year 2026 sales, margin, and EPS guidance.”
Andrew Page, Chief Financial Officer of Amer Sports
