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Anta Sport expects slowdown in same-store sales growth
19
Oct '11
Based on the Board's preliminary review of the Anta Sports Products Limited's unaudited operational data currently available, in line with the recent challenging local sportswear retail market in China generally, the Board expects a slowdown in the same-store-sales growth of retail stores for the third quarter of 2011 when compared with that of the last quarter. The Board also expects a more relaxed and flexible policy on the retail discount offered by the Group's retailers for the third quarter of 2011.

Store expansion plan
The Anta Sports Products Limited has generally managed to implement its 4-year (years 2009 to 2012) store expansion plan (of an average of 600 to 800 new stores per year) in the first three years of implementation. The store expansion plan for 2012 will be further ascertained and determined by the Group towards the end of 2011, taking into account, amongst others, prevailing conditions of the PRC retail industry.

Challenges ahead
Notwithstanding the challenges ahead, the Group will use its best endeavours to take all necessary actions and measures that the Board thinks fit with the aim to ensure the sustainability of the Group's business development. While the orders placed pursuant to the Group's trade fair for the second quarter of 2012 have yet to be ascertained and finalised, the Board expects the trade fair growth rate to be lower than that for the first quarter of 2012, which is in line with the Group's strategy for that quarter.

However, given that the Group has yet to hold trade fairs for the third and fourth quarters of 2012, the performance of the Group for 2012 cannot as yet be quantified and determined. Despite the slowdown in the PRC retail market and future challenges therein, of which the market is generally aware and hence not price sensitive in nature, the Group is nevertheless confident that it will continue to implement its long term development strategies.

As one of the leading branded sportswear enterprises in China, the Anta Sports Products Limited primarily designs, develops, manufactures and markets sportswear, including sports footwear, apparel and accessories.

Anta Sports Products Limited

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