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U.S. Fitness Market Causes Concern for Precor's Parent Company

HELSINKI, FINLAND -- The full-year outlook for Amer Sports, parent company of Precor, is cloudy, the company recently said, because of the uncertainty in consumer demand in general. Profitability in 2009 is affected by the challenging market conditions, according to the Helsinki, Finland-based company, which will release its second-quarter results on Aug. 6.

These challenging conditions are felt particularly in the United States and in the company’s fitness segment, which includes Precor, the company said.

Unless market conditions start to improve materially during the rest of the year, Amer Sports says that the operating profit for the full-year 2009 will be below last year's level. (In February, Amer Sports anticipated its results to improve thanks to a better cost efficiency in the winter sports equipment business in particular.)

The company also announced that it is reorganizing its management model by creating one group-wide Amer Sports management team.

The purpose of the new executive board is to strengthen the development and consistent execution of Amer Sports corporate strategy across all business areas and regions, driving group integration, common goals and the group's overall performance, according to a company statement.

The following new members have been appointed to the executive board: Jean-Marc Pambet, president of apparel and footwear; Bernard Millaud, president of cycling; and Terhi Heikkinen, senior vice president human resources.

Amer Sports executive board members also include Roger Talermo, president and CEO, and Paul Byrne, president of fitness (which includes Precor), among others.

Due to the change, the Amer Sports executive team will cease to exist.

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