Shares in Chinese Sportswear Maker Anta Slump on Weak Sales

Dow Jones10-14

By Tracy Qu

Shares of Anta Sports Products slumped after the Chinese sportswear giant reported weaker-than-expected sales in the latest quarter.

The company's Hong Kong-listed stock was 8.9% lower by the midday break Monday, trimming its year-to-date gain to 20%.

The decline followed Anta's third-quarter sales update, which showed a low-single-digit drop for its Fila brand. Retail sales for its Anta-branded products grew by a mid-single digit, while sales for all other brands rose 45%-50% from a year earlier, according to a Thursday filing. The Hong Kong market was closed Friday for a public holiday.

In a business update call following the filing, the company confirmed that the quarterly retail sales performance for the Anta and Fila brands was 10% below its expectation, Citi analysts led by Xiaopo Wei said in a research note.

The sportswear maker also highlighted the "increased difficulty in projecting fourth-quarter retail sales" and declined to provide an updated annual guidance following the third-quarter sales miss, the analysts said.

"We deem this as management's de facto withdrawal of its 2024 guidance for both brands," Citi wrote.

Write to Tracy Qu at tracy.qu@wsj.com

(END) Dow Jones Newswires

October 14, 2024 00:57 ET (04:57 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2475386076?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-14 12:57","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2475386076","market":"us","top_or_hot":-1,"title":"Shares in Chinese Sportswear Maker Anta Slump on Weak Sales","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Tracy Qu \n</p>\n<pre>\n \n</pre>\n<p>\n  Shares of Anta Sports Products slumped after the Chinese sportswear giant reported weaker-than-expected sales in the latest quarter. \n</p>\n<p>\n  The company's Hong Kong-listed stock was 8.9% lower by the midday break Monday, trimming its year-to-date gain to 20%. \n</p>\n<p>\n  The decline followed Anta's third-quarter sales update, which showed a low-single-digit drop for its Fila brand. Retail sales for its Anta-branded products grew by a mid-single digit, while sales for all other brands rose 45%-50% from a year earlier, according to a Thursday filing. The Hong Kong market was closed Friday for a public holiday. \n</p>\n<p>\n  In a business update call following the filing, the company confirmed that the quarterly retail sales performance for the Anta and Fila brands was 10% below its expectation, Citi analysts led by Xiaopo Wei said in a research note. \n</p>\n<p>\n  The sportswear maker also highlighted the \"increased difficulty in projecting fourth-quarter retail sales\" and declined to provide an updated annual guidance following the third-quarter sales miss, the analysts said. \n</p>\n<p>\n  \"We deem this as management's de facto withdrawal of its 2024 guidance for both brands,\" Citi wrote. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Tracy Qu at tracy.qu@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 14, 2024 00:57 ET (04:57 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Shares in Chinese Sportswear Maker Anta Slump on Weak Sales</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShares in Chinese Sportswear Maker Anta Slump on Weak Sales\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-14 12:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Tracy Qu \n\n\n \n\n\n  Shares of Anta Sports Products slumped after the Chinese sportswear giant reported weaker-than-expected sales in the latest quarter. \n\n\n  The company's Hong Kong-listed stock was ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">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":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2475386076","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2475386076","pubTimestamp":1728881820,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of Anta Sports Products slumped after the Chinese sportswear giant reported weaker-than-expected sales in the latest quarter.The company's Hong Kong-listed stock was 8.9% lower by the midday break Monday, trimming its year-to-date gain to 20%.The decline followed Anta's third-quarter sales update, which showed a low-single-digit drop for its Fila brand. Retail sales for its Anta-branded products grew by a mid-single digit, while sales for all other brands rose 45%-50% from a year earlier, according to a Thursday filing. The Hong Kong market was closed Friday for a public holiday.In a business update call following the filing, the company confirmed that the quarterly retail sales performance for the Anta and Fila brands was 10% below its expectation, Citi analysts led by Xiaopo Wei said in a research note.The sportswear maker also highlighted the \"increased difficulty in projecting fourth-quarter retail sales\" and declined to provide an updated annual guidance following the third","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"02020":"安踏体育"},"translate_title":"中国运动服装制造商安踏股价因销售疲软而暴跌","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"02020":0.9},"content_text":"By Tracy Qu \n\n\n \n\n\n  Shares of Anta Sports Products slumped after the Chinese sportswear giant reported weaker-than-expected sales in the latest quarter. \n\n\n  The company's Hong Kong-listed stock was 8.9% lower by the midday break Monday, trimming its year-to-date gain to 20%. \n\n\n  The decline followed Anta's third-quarter sales update, which showed a low-single-digit drop for its Fila brand. Retail sales for its Anta-branded products grew by a mid-single digit, while sales for all other brands rose 45%-50% from a year earlier, according to a Thursday filing. The Hong Kong market was closed Friday for a public holiday. \n\n\n  In a business update call following the filing, the company confirmed that the quarterly retail sales performance for the Anta and Fila brands was 10% below its expectation, Citi analysts led by Xiaopo Wei said in a research note. \n\n\n  The sportswear maker also highlighted the \"increased difficulty in projecting fourth-quarter retail sales\" and declined to provide an updated annual guidance following the third-quarter sales miss, the analysts said. \n\n\n  \"We deem this as management's de facto withdrawal of its 2024 guidance for both brands,\" Citi wrote. \n\n\n \n\n\n  Write to Tracy Qu at tracy.qu@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 14, 2024 00:57 ET (04:57 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2475386076"}