Domestic sports brands slowed down collectively in the second quarter, with 361 Degrees temporarily in the lead.

Domestic sports brands further differentiated in the second quarter.

Recently, Anta, Li Ning, Xtep, and 361 Degrees successively disclosed their operational data for the second quarter of 2026.

Among them, 361 Degrees showed relatively leading performance. Its main brand and children's apparel brand achieved mid-to-high single-digit growth in offline retail sales, and e-commerce sales grew by high single digits.

Anta’s main brand and FILA both had low single-digit growth in retail sales, while other brands, including Descente and Kolon, grew by 25% to 30%. Li Ning’s retail sales across all platforms declined by low single digits. Xtep's main brand performed weaker, with retail sales decreasing year-on-year by mid-single digits. Its Saucony brand still maintained low single-digit growth.

Although the disclosure criteria of each company are not completely consistent, compared to the first quarter, all four companies experienced varying degrees of slowdown.

In the first quarter of this year, Anta’s main brand and FILA respectively grew by high single digits and the lower end of 10% to 20%. Li Ning’s retail sales across all platforms increased by mid-single digits. Xtep’s main brand grew by low single digits, while Saucony grew by more than 20%. 361 Degrees’ main brand and children’s apparel offline both grew by about 10%, and E-commerce grew by mid-double digits.

The general slowdown in the second quarter is primarily related to changes in the consumption environment.

The late timing of the Spring Festival and concentrated holiday consumption temporarily boosted sports apparel sales in the first quarter. Moving into the second quarter, seasonal effects faded, and offline foot traffic and consumer willingness weakened.

Data from the National Bureau of Statistics shows that retail sales of apparel, shoes, hats, and knitted textiles grew by 6.7% in the first half of the year, but sports and entertainment products saw a single-month retail sales decline of 8% in May, and competition in the mass sports market intensified further.

Li Ning’s shift from growth to decline was mainly pressured by offline channels.

In the second quarter, Li Ning’s self-operated sales fell by low single digits and wholesale by mid-single digits. By the end of the second quarter, Li Ning had 12 fewer large-goods stores compared to the end of the first quarter; in the first half of the year, self-operated stores net decreased by 66, while wholesale stores net increased by 38.

This means adjustments to self-operated stores dragged down sales, and increased wholesale store numbers failed to offset sales pressures from existing channels. Brokerages attribute this to weather impacts, declining offline foot traffic, and intensified competition in the mass sports market. Both online and offline discounts deepened compared to the same period last year.

Compared to this, 361 Degrees continued to maintain growth across all channels, which is related to its mass pricing, channel expansion, and relatively stable discounts.

361 Degrees has long focused on the mass sports market, with its main product price range moving further downmarket. Against the backdrop of consumers placing more value on quality-to-price ratio, this positioning lowers purchase thresholds and more easily meets price-sensitive demand.

According to Shanxi Securities, in the second quarter, the average retail discount of 361 Degrees’ new products was about 71%, a slight improvement compared with the first quarter, and channel inventory was maintained at four-and-a-half to five months.

For reference, Xtep’s main brand retail discount was 70% to 75%; Li Ning’s online and offline discounts deepened year-on-year. Although the discount statistics criteria differ among companies, 361 Degrees’ sales, discounts, and inventory did not show significant divergence.

Outdoor and professional sports demand remains stronger than the mass market, but with a higher base, more participants, and a weakened consumption environment, these segments also entered a slowdown phase.

Other brands, including Descente and Kolon, still achieved 25% to 30% growth in the second quarter, maintaining a leading position within the Anta Group, but significantly lower than the 50% to 55% in the second quarter of 2025.

Saucony’s retail sales grew by over 30% in 2025, and over 20% in the first quarter of this year, but have already slowed to low single digits in the second quarter.

Thus, sports brands' competition in the second quarter revealed a clearer hierarchy: mass-market main brands are generally under pressure, while 361 Degrees relatively prevails due to quality-to-price ratio and channel increases. Outdoor and professional sports segments still grow, but have bid farewell to previous rapid expansion.

Entering the second half of the year, the focus of competition will further shift from store openings and promotional turnover to new product efficiency, single-store sales, and discount control.

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