Anta Archives - Inside Retail Asia
“From a long-term perspective, the Covid-19 outbreak will not last for an indefinite period of time and consumers’ needs for health and fitness products will definitely be heightened, which will contribute to the group’s swift recovery after the crisis.”
Anta Sports Products is planning more stores after another record profit.
Anta Sports Products’ half-year revenue grew by 19.2 per cent to RMB7.32 billion.
A government campaign to encourage healthy living is giving Chinese sports brands traction again in the domestic consumer market.
China’s sportswear company Anta wants to acquire brands to grow its business overseas. But the company did not prove further details about specific companies it is targeting. The bullish outlook was reinforced by a strong first half performance. Anta, which competes with Li Ning, says first half net profit rose 28 per cent to 802.8 million yuan ($130.15 million), up from 625.7 million yuan in the same period a year earlier, beating the forecasts of 758 million yuan. Anta had 7701 stores…
The Chinese sportswear industry is seeing signs of recovery from difficult trading conditions. Anta, whose market value stood at $4 billion, said it booked single-digit percentage growth in orders for third quarter deliveries. Belle International said same-store sales of sportswear shoes increased seven per cent in the three months to February. “The sportswear sector is back on a growth track and Anta is the leader of the trend,” said Spencer Leung, an analyst at UBS in Hong Kong. …
Chinese sports goods company expects further erosion of profit in the second half.
Adversity in sports goods industry drags down the retailer’s income.