On August 20, Amer Sports, Inc. declined 5.11% in regular trading, trading at $32.34/share, with turnover of $191 million.

Despite delivering a strong Q2 with adjusted EPS of $0.22 (doubling the $0.11 consensus estimate) and revenue of $1.633 billion (beating the $1.543 billion estimate by 5.8%), the stock came under pressure as Q3 guidance fell short of expectations. The company guided Q3 adjusted EPS of $0.31 to $0.33, significantly below the analyst consensus of $0.39. UBS noted that a higher-than-expected SG&A expense outlook could weigh on market sentiment despite the strong omnichannel comparable growth across all segments.

Multiple institutions lowered their price targets: Truist cut to $42 from $50, and Deutsche Bank trimmed to $50 from $52, though both maintained Buy ratings. The broader apparel sector also traded lower, with Capri Holdings down 4.76%, Lululemon down 3.22%, and VF Corp down 2.89%.

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