纺织服装行业周报：Amer披露2024Q3业绩，大中华区营收增速环比继续提升

Investment Rating - The report maintains an investment rating of "A" for the textile and apparel industry, indicating a positive outlook for the sector [1]. Core Insights - Amer's Q3 2024 performance shows a 17% year-on-year revenue growth, with significant contributions from the Greater China region, which experienced a 56% increase in revenue [3][41]. - The Technical Apparel segment reported a 34% revenue increase, driven by strong performance in the Greater China and Asia-Pacific regions [43]. - The report anticipates a revenue growth of 16%-17% for 2024, with an adjusted gross margin forecast of 55.3%-55.5% [2][44]. Summary by Sections Weekly Observation - Amer's Q3 2024 results indicate a sequential improvement in revenue growth in the Greater China region [1][41]. - The company achieved an adjusted operating profit of $195 million, a 46% increase year-on-year, with an adjusted net profit of $71 million, reflecting a 651% growth [42]. Market Performance - The textile and apparel sector outperformed the market, with a 0.06% increase, while the broader market (CSI 300) declined by 2.6% [7][47]. - The PE ratio for the textile manufacturing sector stands at 20.22, indicating a strong valuation compared to historical averages [53][54]. Industry Data Tracking - In October 2024, China's textile and apparel exports grew by 16.1% and 8.1% respectively, while Vietnam's textile and footwear exports increased by 25.2% and 16.5% [8][79]. - The retail sales of consumer goods in China reached 4.54 trillion yuan in October 2024, with a year-on-year growth of 4.8% [86]. Industry News - The Swiss watch industry reported a 2.2% decline in exports in October 2024, with a significant drop in exports to mainland China [4][106]. - Nike launched the Air Max 1000, a shoe primarily made using 3D printing technology, showcasing innovation in the sports apparel sector [6][106].