智通财经APP获悉，中信里昂发布研报称，特步国际(01368)2025年第一季度零售大体符合预期，鞋类对于零售额增长贡献大多数，超过衣物，库存和折扣水平保持健康。旗下Saucony和Merrell品牌势头依旧良好，零售额各同比增超过40%，对其维持目标价5.9港元及“跑赢大市”评级。
管理层重申Saucony后续3-5年目标，旨在销售额翻一番，经营利润率达到15%。该公司2025年指引维持不变，展望未来，中信里昂希望更多产品推出，Saucony产品具多样性，特步品牌衣物产品有调整，以及品牌的持续渠道更新，从而驱动销售额增长。
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