Amer Sports announced on Tuesday that first quarter revenue increased 13% year-over-year, largely driven by growth in the technical apparel segment. 

The maker of Wilson tennis rackets and Salomon ski boots said revenue reached $1.2 billion as compared to the first quarter of 2023. Net income increased to $39 million, or $0.08 per diluted share.

At the Amer Sports Group level,direct-to-consumer expanded 41% with double-digit growth across all regions, while wholesale revenues decreased 1% year over year. 

Regionally, Greater China led with a 51% revenue increase, followed by the Asia Pacific region with a 34% rise. EMEA grew by 1%, while revenues in the Americas were flat, with growth in technical apparel offset by declines in other segments.

By segment, the technical apparel segment saw revenues jump 44% to $510 million, with significant growth in DTC sales up 46% and wholesale revenues up 40%. The outdoor performance segment reported a 6% revenue increase to $400 million, led by Salomon soft goods. However, the ball and racquet sports segment experienced a 14% revenue decrease to $273 million, impacted by challenges in Wilson’s core market.

“The momentum behind our strong financial performance has continued through the first quarter of 2024, as we delivered sales and profitability above our guidance,” said CEO James Zheng.

“Our transformation to a brand-direct business model four years ago continues to fuel profitable growth today, and our high-performance technical products are resonating with consumers globally. We are gaining share in the premium sports and outdoor market and are well positioned to deliver another great year in 2024.”

Looking ahead, Amer Sports is expecting revenue growth in the mid-teens for the year ending December 31, 2024. Fully diluted EPS is projected toward the high end of $0.30 to $0.40. 

For the second quarter of 2024, Amer Sports anticipates approximately 10% revenue growth, with fully diluted EPS between $(0.04) and $(0.08).