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Profits outstrip sales at Anta Sports

2014/2/27 15:57:27


Chinese brand and sporting goods retailer Anta Sports, which also distributes the Fila brand, has reported a drop in sales of 4.5 percent to 7,281.3 million Yuan Renminbi (€865.2 million) for the 2013 financial year. Gross profits however improved by 5 percent to RMB 3,039.3 million (€361.2 million) while operating income rose slightly by 0.1 percent to RMB 1,565.6 million (€186.1 million).  The Chinese sporting goods market continued to be marred by substantial inventory excesses and subsequent discounts last year. This meant that Anta chose to consolidate rather than expand. By the end of this year however, the company plans to have 7,700-7,800 stores, 900-1,000 kids shops and 450-500 Fila outlets nationwide. Figures for individual categories were as follows: footwear, representing 47 percent of sales, was down 7.7 percent, while apparel (49.1 percent of turnover) dropped by 2.8 percent. The smaller segment of accessories jumped up 19.5 percent and now makes up 3.9 percent of total sales.