Anta Sports Products, a major Chinese manufacturer of athletic footwear, announced that its net profit for the six months ended June 30 was $121.7 million, down by 17 percent from the year-ago period. An official partner of the Chinese Olympic Committee, Anta remains cautious about the short-term outlook for the sportswear industry in China.
Operating revenues dropped by 11.6 percent to $120.6 million, compared with an increase of 28.9 percent in the same period of 2011. The gross margin was off by 1 full percentage point to 41.8 percent.
As of June 30, the number of Anta stores was up by 29 from the year previous to 7,807. The number of Sports Lifestyle series stores dropped by 198 to 689. Kids series stores were up by 59 to 691. The number of Fila stores stood at 236 on June 30.
The planned store count for the year-end foresees 7,800 to 7,900 doors under the Anta banner, 450 to 550 for Sports Lifestyle, 750 to 850 for Kids and 250 to 300 for Fila. The company is particularly committed to strengthening its licensed Fila business by opening additional stores in major cities.
