纺织服装品牌力跟踪月报202411期：冬装销售旺季来临，休闲品牌百度搜索热度整体提升

Investment Rating - The report maintains an "Outperform" rating for the textile and apparel industry [2][5]. Core Viewpoints - The winter sales season is approaching, leading to an increase in search interest for leisure brands, with notable growth in the popularity of winter products [2][20]. - Major brands are actively launching winter collections, including down jackets and outdoor gear, which is expected to boost sales [3][23]. - The overall trend for the textile and apparel sector is anticipated to improve in the fourth quarter, following signs of recovery in October [3][5]. Summary by Sections Market Trends - In November, the search index for various brands increased, particularly for sports brands like Anta and Nike, which saw month-on-month increases of 12.8% and 7.9% respectively [2][20]. - Leisure brands such as Bosideng and Jiangnan Buyi also experienced significant increases in search interest, with Bosideng's index rising by 45.7% [23]. Sports Community Insights - Discussion activity on platforms like Hupu decreased for most brands, with Nike leading in discussions at 256 posts, followed by Li Ning at 214 posts [34]. - Sales data from the "Shihuo" platform indicated a general decline in sales for most brands, except for 361 Degrees, which saw a 28% increase [34][35]. Company Profit Forecasts and Investment Ratings - Key companies in the industry, including Anta Sports, Li Ning, and Bosideng, are rated as "Outperform" with projected earnings per share (EPS) for 2024E and 2025E as follows: - Anta Sports: EPS 4.82 (2024E), PE 15.2 (2024E) [4]. - Li Ning: EPS 1.22 (2024E), PE 12.5 (2024E) [4]. - Bosideng: EPS 0.32 (2024E), PE 12.2 (2024E) [4].