Fila Sneakers. Shutterstock
Chinese sportswear leader Anta Sports has released a fourth quarter and full-year 2020 earnings report that shows impressive sales growth for the group’s Fila brand, which saw retail sales up over 25 percent in Q4, compared with the same period in 2019.
Anta branded goods saw single digit year-on-year growth for both the fourth quarter and the full year. Fila’s full-year growth was described in the announcement as being in the “double digits” compared to a year earlier.
The report didn’t include results for Finnish sports brand Amer Sports, which was acquired by Anta Sports in 2019. In December 2020, Anta Sports disclosed that Amer Sports had sold its Precor fitness equipment division to Peloton Interactive in a share and asset purchase agreement valued at $420 million.
Some analysts have speculated the sale of some Amer Sports assets may be related to financial pressures faced by Anta Sports. For the six months ended June 30, 2020, Anta Sports’ revenue fell 1 percent year-on-year to 14.67 billion yuan ($2.27 billion), with profit attributable to shareholders down 28.6 percent over the same period on the year.