Cold Winter Lifted Anta Sports Products' 1Q Sales, FVE Unchanged
Anta’s first-quarter sales beat our estimate on an annualized basis with core brands, Anta Adults and Kids, recording revenue growth of 20%-25% year over year. Also positive is the company’s other brand investments, namely Fila, which posted 80%-85% growth year over year. We estimate this would imply around 41% revenue growth for Anta on a consolidated basis, well ahead of our full-year forecast of 25% revenue growth. With the robust first quarter largely driven by short-term factors that may no...ANTA Sports Products is principally engaged in the manufacturing, trading and distribution of sporting goods, including footwear, apparel and accessories, in the People's Republic of China. As of Dec 31 2014, there were 7,662 ANTA Stores, 1,228 Kids sportswear series stores and 519 FILA stores in China, Hong Kong and Macao.
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