Stock Track | Anta Sports Shares Soar 8% on Strong Q3 Sales of Core Brand

Stock Track10-11

Shares of Anta Sports Products Ltd (HKG:2020), a leading Chinese sportswear company, surged 8% on Wednesday, reaching a closing price of HK$100.10. The stock's impressive performance was fueled by the company's positive third-quarter results for its core Anta branded products.

According to a bourse filing released on Thursday, Anta Sports Products reported a mid-single digit positive growth in retail sales of its Anta branded products during the third quarter of 2024, compared to the same period last year. This strong performance from the company's flagship brand, which is its biggest revenue driver, boosted investor confidence and drove the stock's significant rally.

However, the company's Fila branded products saw a low-single digit decline in retail sales during the same quarter. Nevertheless, the promising sales trajectory of the Anta brand, coupled with a remarkable 45% to 50% year-over-year growth in retail sales for the company's other branded products, overshadowed the Fila brand's underperformance, contributing to the overall positive sentiment surrounding the stock.

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The stock's impressive performance was fueled by the...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"02020","symbol_name":"安踏体育","start_time":0,"source_url":"","article_id":"1150573638","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1150573638","pubTimestamp":1728603405,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Anta Sports Products Ltd , a leading Chinese sportswear company, surged 8% on Wednesday, reaching a closing price of HK$100.10. 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