Sportswear maker Anta Sports Products Ltd. (2020.HK) said on Tuesday that its Anta brand slipped into sales contraction in the fourth quarter, declining by a low single-digit amount in the period. But gains in previous quarters helped the brand record low single-digit year-on-year retail sales growth for all of last year.
The company’s Fila brand recorded mid single-digit year-on-year retail sales growth in the fourth quarter, while the brand’s full-year retail sales also rose at a mid single-digit pace. The company’s portfolio of other brands, including Descente and Kolon Sport, recorded retail sales gains of 35% to 40% year-on-year in the fourth quarter, while full-year growth came in at around 45% to 50%.
Anta’s shares opened lower on Wednesday and closed at HK$77.80 by the midday break, down 5.75%. The stock is down more than 16% over the last six months.
By Lee Shih Ta
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