Here is a summary of the content in 100 words:
Anta Group, a sportswear company, reported a 13.6% revenue growth to $9.77 billion for its 2024 fiscal year, making it the third “100 billion yuan club” member in China. However, its share price dropped due to a decline in gross profit margin and operating profit margin. Xtep International, another sportswear company, reported a 6.5% revenue growth to $1.87 billion, with its Saucony brand achieving revenue exceeding $138 million for the first time. The report also discusses the challenges faced by China’s menswear and womenswear industries, including channel transformation, brand reinvention, and high return rates.
