ANTA SPORTS: ANTA AND FILA RETAIL SALES TURNED NEGATIVE IN THE THIRD QUARTER; ALL OTHER BRANDS HELD AT 25-30% GROWTH
By Pau Almar · Published
Q3 2026 · 21 OCTOBER 2026
ANTA says retail sales of ANTA-branded products recorded "mid-single digit negative growth" in the third quarter of 2026 against the same quarter of 2025. FILA recorded "low-single digit negative growth". All other brands, a group that excludes anything that joined after 1 January 2025, recorded 25-30% positive growth.
The change of sign between the two quarters is the main content of the filing. In the operational update of 17 July 2026, ANTA and FILA were each reported at low-single-digit positive growth for the second quarter, and all other brands at 25-30%. The company does not say why, and the filing has no commentary.
What the filing cannot support is a group number. These are retail-value sales, inclusive of VAT, rung up by the group and by its distributors and franchisees. The company states that they "do not represent the Group's total revenue". Amer Sports is excluded, and so is the Q3 2025 base, so the size of the two declines in renminbi is not recoverable from the document.
The two largest revenue lines of the group are the two that fell. At the first half they were 40.8% and 34.6% of group revenue (ANTA segment RMB17,771m, FILA RMB15,045m of RMB43,507m, VGR arithmetic). Those are revenue weights, not retail-sales weights, and they are given for orientation only.
The next operational update will show whether the sign change in ANTA and FILA persists or reverses; the full-year 2026 results will show how the bands translate into reported revenue by segment.
Source: ANTA Sports Products Limited, Operational Update for the Third Quarter of 2026 (company IR site), 21 October 2026 ↗
Analysis by Pau Almar, VGR.
VGR analysis is an independent commercial reading of publicly disclosed company information, written from the perspective of a fashion retail sector operator. It is not investment research and it is not advice to buy, sell or hold any security. VGR is not a regulated financial adviser. Figures are taken from official company materials; figures derived by VGR are labelled as such. Readers should reach their own conclusions and take professional advice where appropriate.
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