Retail in Asia

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China’s ANTA Sports says 4Q order value falls

Chinese sportswear brand ANTA Sports Products Ltd said its order value for the fourth quarter of 2012 fallen by more than 10 percent year-on-year as competition intensified, sending its shares to their lowest in three years on Friday.

In a filing to the Hong Kong bourse late on Thursday, ANTA said the order value fell as it had adjusted the amount of orders for its 2012 collection placed by its distributors and franchisees but not yet produced for delivery.

ANTA said the aggregate order value for 2012 fell by a high single digit percentage year-on-year. It said fierce competition had been affecting the profitability of its retailers over the past several quarters.

(Source: CNBC)