Core Viewpoint - Xtep International (01368) reported a near 3% increase in stock price, with a current price of HKD 5.85 and a trading volume of HKD 35.46 million. The company announced its operational status for the second quarter of 2025, showing growth in retail sales for its main brand and a significant increase for the Saucony brand [1]. Group 1: Sales Performance - The main brand of Xtep achieved low single-digit year-on-year growth in retail sales across both online and offline channels [1]. - Saucony's retail sales saw over 20% year-on-year growth, with a more than 30% increase in the first half of 2025 [1]. - For the six months ending June 30, 2025, the main brand's retail sales recorded mid single-digit year-on-year growth, while the channel inventory turnover was approximately four to four and a half months [1]. Group 2: Market Trends and Strategies - According to CICC's report, the main brand's retail revenue in Q2 2025 grew at a low single-digit rate, with running and outdoor categories leading overall growth, particularly with double-digit sales growth in the running category for the first half of 2025 [1]. - The children's product category outperformed the adult category during this period [1]. - Sales performance was stronger in April and May compared to June, attributed to the May Day holiday and extended 618 sales period [1]. Group 3: Pricing and Inventory Management - Despite the impact of the May Day holiday and 618 e-commerce promotions, the retail discount for the main brand remained stable at 70-75% [1]. - Anticipating numerous marathon events in the second half of the year, the company proactively managed inventory, resulting in a channel inventory turnover of four to four and a half months by the end of June [1]. - Sales performance for the main brand improved in July compared to June, with online sales outperforming overall sales [1].
特步国际涨近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