纺织服装社零数据点评：10月国内社零增速环比提升1.6pct，限上化妆品类零售额高增

Investment Rating - The textile and apparel industry is rated as "In line with the market" [4] Core Insights - In October 2024, domestic retail sales (social zero) reached 4.54 trillion yuan, showing a year-on-year growth of 4.8%, which exceeded market expectations [1] - The online retail sector continues to outperform the overall retail market, with a notable increase in sales during the "Double Eleven" shopping festival [6][10] - The textile and apparel sector saw a year-on-year growth of 8.0% in October, indicating a positive trend in consumer demand [3][10] Summary by Sections Market Performance - In October 2024, the retail sales growth rate improved by 1.6 percentage points compared to the previous month, with significant growth in cosmetics and sports/entertainment products [4][10] - The online retail sales of physical goods grew by 8.3% year-on-year from January to October 2024, outperforming the overall retail growth [2][6] Consumer Confidence - Consumer confidence index has shown a decline since the second quarter of 2024, with the latest figure at 85.7 in September, down 0.1 from the previous month [1] Sales Performance by Category - The retail sales of cosmetics increased by 40.1% year-on-year in October, while the textile and apparel sector grew by 8.0% [3][10] - The sports and entertainment products category saw a year-on-year growth of 26.7% in October, indicating strong consumer demand [10] Recommendations - The report suggests a positive outlook for companies with strong growth potential in the textile manufacturing sector, such as Huayi Group and Shenzhou International, due to their solid customer base and production advantages [10] - In the sports apparel segment, companies like Anta Sports and 361 Degrees are recommended for their robust retail performance and innovative product offerings [10]