安踏体育1Q25业绩完成度好于预期,进一步深化单聚焦、多品牌、全球化战略

浦银国际证券
11 Apr

1Q25流水表现整体好于市场预期:在春节假期刺激下,公司1Q25整体流水延续了4Q24的良好增长势头。安踏品牌1Q25流水同比增长高单位数(3月由于天气因素增速有所放缓),基本符合市场预期。Fila品牌1Q25流水同比增长高单位数(3月表现好于1-2月),好于市场预期,很大程度上归功于管理层对儿童业务与潮牌的品牌重塑。新的Fila管理层后续将对Fila大货进行产品调整以及品牌重塑,这有望进一步提升...

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