‘Worst has passed’ – Anta chairman
08/08/2013
However, this was better than had been expected and its order book grew for the first time in six quarters.
"The worst period for the company has already passed," said Anta chairman Ding Shizhong, although he acknowledged the sector faced uncertainty due to inventory issues.
The company is planning to reduce its store numbers to between 7,600 and 7,700 by the end of this year, down from 8,075 a year earlier. It had 8,764 stores at its peak in June 2011.
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