Anta Sports' Sales Likely Supported by Higher Ad, Promotional Expenses -- Market Talk

Dow Jones04-18

0818 GMT - Anta Sports' 2024 retail sales could be supported by planned higher advertising and promotional expenses, Citi analysts Xiaopo Wei and Vincent Yang say in a research note. Unlike most Chinese consumer companies, Anta continues to guide for 10%-15% retail sales growth in 2024 for both Anta and Fila brands despite macro uncertainties, the analysts say. Management's confidence is likely supported by the company's regained short-term sales momentum in late March, they say. Meanwhile, management has emphasized the need to lift A&P expenses for "long-term quality growth," though that could compress operating profit margin as a result, they add. Citi maintains a buy call on Anta and keeps its target at HK$98.50. Shares last closed at HK$84.95. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

April 18, 2024 04:18 ET (08:18 GMT)

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Unlike most Chinese consumer companies, Anta continues to guide for 10%-15% retail sales growth in 2024 for both Anta and Fila brands despite macro uncertainties, the analysts say. Management's confidence is likely supported by the company's regained short-term sales momentum in late March, they say. Meanwhile, management has emphasized the need to lift A&P expenses for \"long-term quality growth,\" though that could compress operating profit margin as a result, they add. Citi maintains a buy call on Anta and keeps its target at HK$98.50. Shares last closed at HK$84.95. 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