Citing extended store closures, adjustments to its business to comply with local health authority rules and the disruption in its supply chain, the Chinese sportswear giant posted a voluntary announcement that said the COVID-19 virus will “inevitably” affect its H1 results without offering any specifics on the magnitude. While the Chinese economy is starting to lurch back into motion after the extended Chinese New Year break, the Anta assessment suggests that hopes for a full recovery by the end of Q1 might be too optimistic.

Anta said that as of Feb. 14, nearly 40 per cent of its stores from its ... Log in to view full article.