特步国际:流水稳健增长 库存健康 KP剥离进度顺利推进

国盛证券
23 Oct 2024

特步品牌2024Q3 流水增长中单位数,运营稳健。公司发布2024 年Q3经营情况公告,特步品牌流水同比增长中单位数,Q3 零售折扣水平约75折,截至Q3 末渠道存货周转天数在4 个月左右,运营质量稳健,整体表现符合预期。10 月份以来受益于消费环境边际改善以及假期消费带动,我们预计公司终端流水增速或在双位数,对比Q3 有所提升。产品优化助力电商业务增速优异,线下渠道流水受限于客流波动预计持平。...

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