Anta Finishes Year with Strong Gains
As it closes in on one of the industry’s largest-ever acquisitions of Amer Sports, Anta reported net income jumped 33% to RMB4,102.9 million ($613.2 mm) compared to RMB3,087.8 for the 12 months ended Dec. 31 with sales leaping 44% to RMB24,100.0 million ($3,601.7 mm) from RMB16,692.5 million. Footwear sales for the year were up 22% to RMB8,631.4 while apparel sales soared 61% to RMB14,709.2 million and accessories gained 44% to RMB759.4 million. Gross margin for the year expanded 320 b.p. to 52.6%. Anta said sales of Anta brand products in Q4 were up mid-teens while sales of Other brands jumped ... Log in to view full article.