纺服&零售周报:亚玛芬体育25Q1业绩超预期，关注户外运动赛道高景气度

Investment Rating - The report maintains a positive outlook on the outdoor sports sector, highlighting high growth potential and favorable market conditions for brands in this space [4]. Core Insights - The 618 shopping festival has commenced, with domestic brands performing exceptionally well. The beauty and personal care sector is expected to see structural opportunities due to new channels and products, benefiting brands with strong assets [3]. - The manufacturing sector is stabilizing, with leading manufacturers expected to enhance their market share due to their strong risk resilience. The report emphasizes the importance of monitoring tariff policy dynamics for long-term investment opportunities [3][7]. - The outdoor sports industry is experiencing sustained growth, driven by increasing participation in sports and fitness activities, as well as policy support. The report notes that outdoor apparel is a promising sub-sector within the broader apparel market [4]. Market Performance - The report indicates that the Shanghai Composite Index decreased by 0.57%, while the textile and apparel sector outperformed the index with a decline of only 0.11% [11]. - The report highlights the performance of specific stocks, with notable gains in companies like Langsha Co., which saw a weekly increase of 31.91% [17]. Industry Data Tracking - Retail sales data shows a year-on-year increase of 5.1% in April, with specific categories such as gold and silver jewelry experiencing a significant rise of 25.3% [20][21]. - The report tracks raw material prices, noting that the Cotlook A index for cotton was 13,812, reflecting a 0.6% increase from the previous week [23]. - Export data from Vietnam indicates a 14.77% year-on-year increase in textile and apparel exports for March, suggesting robust demand in international markets [31].