Core Viewpoint - Xtep International (01368) has shown a positive market response with a nearly 3% increase in stock price, reflecting investor confidence following the release of its operational performance for Q2 2025 in mainland China [1] Group 1: Sales Performance - The main brand of Xtep reported low single-digit year-on-year growth in retail sales across both online and offline channels [1] - Saucony, another brand under Xtep, achieved over 20% year-on-year growth in retail sales across both online and offline channels [1] - For the six months ending June 30, 2025, Xtep's main brand retail sales experienced mid single-digit year-on-year growth, while Saucony's retail sales saw over 30% year-on-year growth [1] Group 2: Inventory and Sales Strategy - The channel inventory turnover for Xtep's main brand is approximately four to four and a half months [1] - The company maintains a stable discount range of 70% to 75% for its main brand retail sales, despite the impact of the May Day holiday and the extended 618 sales period [1] - Xtep has proactively managed inventory in anticipation of numerous marathon events in the second half of the year, leading to a channel inventory turnover of 4 to 4.5 months by the end of June [1] Group 3: Category Performance - The running and outdoor categories have been the primary drivers of overall growth for Xtep, with running category sales experiencing double-digit year-on-year growth in the first half of 2025 [1] - The children's product category has outperformed the adult category in terms of sales performance [1] - Sales performance was stronger in April and May compared to June, attributed to the May Day holiday and the extended 618 sales cycle [1]
港股异动 | 特步国际(01368)涨近3% 上半年主品牌零售同比增长中单位数 7月以来线上优于整体销售