纺织服装行业周报：亚玛芬业绩优异，关注冬季户外旺季催化

Investment Rating - The report maintains a positive outlook on the textile and apparel industry, highlighting the recovery of domestic demand and the potential for retail improvement [5][26]. Core Insights - The textile and apparel sector has shown resilience, with the SW textile and apparel index outperforming the SW All A index by 2.2 percentage points during the week of November 18-22, 2024 [1][9]. - Key performance indicators include a 8.0% year-on-year growth in retail sales for clothing, shoes, and textiles in October, and a 11.9% increase in textile exports [2][50]. - The report emphasizes the strong performance of specific companies, such as Amer Sports, which reported a 56% revenue growth in the Greater China region [33]. Summary by Sections Industry Performance - The textile and apparel sector outperformed the market, with the SW textile and apparel index rising 0.1% and the SW textile manufacturing index increasing by 1.3% [1][9]. - Notable companies like Amer Sports and Nike have reported significant revenue growth, indicating a robust demand for outdoor and athletic apparel [3][17]. Retail and Export Data - In October, the retail sales of clothing, shoes, and textiles reached 134.7 billion yuan, reflecting an 8.0% year-on-year increase [2][42]. - Textile exports in October amounted to 25.5 billion USD, marking an 11.9% increase compared to the previous year, with specific categories like textile yarns and fabrics seeing a 16.1% growth [50]. Company Highlights - Amer Sports reported a 17% revenue increase to 1.354 billion USD in Q3 2024, with a staggering 651% rise in adjusted net profit [3][15]. - Nike launched a new running shoe series, focusing on professional running needs, which is expected to benefit the entire supply chain [17][18]. Market Outlook - The report suggests that the domestic policy efforts are likely to improve consumer sentiment and drive retail sales, particularly in the home textile sector due to government subsidies [5][21]. - The textile manufacturing sector is expected to see a normalization in growth rates after a period of high performance driven by inventory replenishment [22][26].