April 12, 2023
Net income dropped 81% to $11,029,000 from $58,434,000 as it lapped the prior year’s $55 million merger termination benefit, while revenue fell 9% to $379,269,000 from $416,288,000 for the fourth quarter ended Jan. 28.
Net income at the Japanese retailer grew 3% to ¥831 million ($6.3 mm) in the fiscal first half ended Feb. 28 from ¥28,238 last year, on 4% higher revenues of ¥29,406 million ($223.8 mm) up from ¥28,238 million, including e-commerce sales that increased 21% year-over-year.
Benefitting from the lifting of Zero Covid policies in Dec., Anta Sports’ brands swung to positive growth in the first quarter, bouncing back from broad-based declines in Q4.
Total revenue at the Chinese footwear manufacturer and retailer was down 10% in Mar. to $696,532,000 million from $773,485,000 million, hit by sneaker brands cutting orders.
The women’s golf apparel brand restructured its leadership team under its co-founder and new CEO Tami Fujii.