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

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Shares of Anta Sports Products Ltd, a leading Chinese sportswear company, surged 8% on Wednesday after the company reported that retail sales of its core Anta branded products recorded mid-single digit positive growth in the third quarter of 2024.

Despite the positive performance of its main brand, the company's Fila branded products saw low-single digit negative growth during the same period. However, investors appeared to focus on the promising sales trajectory of Anta's namesake brand, which is the company's biggest revenue driver.

While the company did not provide specific sales figures or reasons for the growth, the robust performance of its core brand is seen as a positive signal for Anta's overall prospects. The strong demand for Anta's products could indicate that the company's marketing strategies and product offerings are resonating well with consumers.

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