纺服&零售周报：制造端24Q1兑现高弹性，把握制造&出海β

Investment Rating - The report maintains a positive outlook on the textile and apparel industry, indicating a "Look Favorably" investment rating [1]. Core Insights - The textile manufacturing and supply chain companies are showing strong performance in Q1 2024, with notable revenue growth and profit increases across several companies, driven by stable domestic and international demand [2][3]. - The report emphasizes the resilience of manufacturing companies in the short term and highlights the long-term potential of leading brands in the sports industry and high-quality enterprises [2][3]. - The cross-border e-commerce sector is identified as a significant growth area, with recommendations to focus on companies with strong operational capabilities and those adapting to the cross-border e-commerce landscape [4]. Summary by Sections Market Review - The market indices for the week of April 22-26, 2024, showed varied performance, with the Shanghai Composite Index increasing by 0.76% and the textile and apparel sector declining by 1.22% [8][10]. - The textile and apparel sector ranked 27th among 31 primary industries, while beauty and retail sectors performed better [8]. Industry Data Tracking - In March 2024, the total retail sales increased by 3.1%, with specific categories such as clothing and cosmetics showing positive growth [31]. - The report notes an improvement in overseas demand, with U.S. apparel retail sales growing by 3.1% year-on-year in March 2024 [40]. Industry News - Companies like Skechers and Columbia reported varying sales performances, with Skechers seeing a 16% increase in the Asia-Pacific market while Columbia's sales fell by 6% [3]. - The report highlights the strong performance of domestic beauty brands and the increasing market share of local cosmetics companies [4]. Recommendations - The report recommends focusing on high-quality companies in the sports apparel sector, such as Anta Sports and Li Ning, as well as manufacturing leaders like Huayi Group and Shenzhou International [4]. - It also suggests monitoring the performance of domestic beauty brands that are gaining traction in the market [4].