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ANTA's apparel, accessories divisions revenue dip in H1
07
Aug '12
ANTA Sports Products Ltd, one of the largest sportswear makers in China, has posted a decline of 10.6 percent year-on-year and 15.9 percent year-on-year in apparel and accessories revenues, respectively, during the first half of the current year.
 
During the period, ANTA's staff costs, R&D costs and effective tax rate increased. Therefore, the company's results showed greater decline than its decrease in revenue.
 
ANTA attributed the decline in its performance to increased competition in the industry.
 
The company has adopted a more flexible arrangement of orders this year. It plans to introduce a new discount rate policy for the first quarter of next year in order to reduce its inventory.
 
The company said it has received 20-30 percent fewer orders from distributors for the first quarter of 2013 compared to the same period last year, which suggests a continued grim outlook.
 
ANTA’s store count increased by 29 to 7,807 during the first six months of 2012.

Fibre2fashion News Desk - China

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