宜家作为曾经的中产家居标配，今天为何会陆续关店转型，成为"穷鬼乐园""家庭餐厅""老年相亲角""牛马休眠站"？ 宜家在1月7日宣布，自2月2日起，将关闭上海宝山、广州番禺、天津中北、南通、徐州、宁波、哈尔滨7家门店。这是宜家1998年入华以来最大规模的一 次关店潮，相当于一口气关掉了41家门店的1/6。 宜家称，关店是为了应对全球经济不确定性、数字化浪潮以及消费者行为的深刻变化，是"面向长期韧性与未来增长所采取的主动转型"。这不是一次简单 的战略转型，而更像是一个充满象征意味的"祛魅"时刻。 曾经那个蓝黄相间的标志和"蓝盒子"，指引中国新兴中产走向全面而便利、简约有美感的美好生活，后来它连年在社交媒体上被解构，成为"穷鬼乐 园""家庭餐厅""老年相亲角""牛马休眠站"，有了更多更复杂的意味。 （图/社交媒体） 在工作日走进宜家，你可能会看到一幅奇特而典型的"社会众生相"： 餐厅里可能有头发花白的叔叔阿姨们在闲聊，配着宜家的餐食，话题可以从退休金、房产证蔓延到子女近况；展示区沙发上，穿着衬衫的年 轻"牛马"摘掉工牌，在"汉尼斯"或"爱克托"上浅睡。一旁的儿童游乐区和玩具区则充满着孩子的欢闹声。 与之形成鲜明对比 ...

宜家将关闭其在中国的七家标志性蓝盒子家具店，并转向规模较小的门店。这家瑞典零售商正在努力应 对中国市场的长期低迷，以及来自本土竞争对手日益激烈的竞争。 该公司在一份声明中表示，包括上海、广州和天津在内的多个城市的门店将于2月2日起停止运营。未来 两年，该公司计划在北京和深圳开设十几家小型门店。 此举正值近年来中国消费者对宜家家具的需求有所减弱之际，而更便宜的线上品牌也侵蚀了宜家在中国 的市场份额。 转向小型门店符合这家家具巨头将门店更贴近顾客、加快配送速度的全球战略。 宜家表示还在与中国电商巨头京东合作，以实现其产品在中国七个城市的即时送达。 该公司表示，关闭部分门店后，公司仍将在中国运营34家实体店、两家电商平台旗舰店以及其他线上渠 道，覆盖超过10亿中国消费者。此次重组旨在将资源投向更贴近消费者的渠道。 ...

在投资者持续涌入人工智能（AI）相关股票的推动下，科技股成为2025年表现最佳的板块，带动整体 市场大幅上涨。标普500指数去年上涨逾16%，实现连续第三年年度上涨；纳斯达克综合指数去年跃升 逾20%；道琼斯工业平均指数则上涨约13%。这三大基准指数去年均创下历史新高。 德意志银行策略师写道："总体而言，2025年是强劲的一年，得益于经济持续增长、对人工智能的乐观 情绪以及更多央行降息举措。然而，这些表面上的涨幅掩盖了巨大的波动性，尤其是在4月，特朗普 的'解放日'关税公告引发了二战以来标普500指数第五大两日跌幅。" 北京时间1月2日晚，美股周五高开。今年是2026年的首个交易日，科技股尝试延续去年的上涨势头。 在过去三年中，标普500指数在每年首个交易日均收跌。据Bespoke Investment Group数据，回溯至1950 年代，并无明显趋势，首日收涨的概率约为48%。 科技股普遍上涨。英伟达、Palantir延续去年涨势。这两只人工智能相关股票在2025年表现亮眼，英伟 达全年上涨约39%，Palantir则飙升135%。苹果、Alphabet和微软等其他科技股也普遍走高。 此外，在线家居用品公 ...

这家曾为数代美国家庭承载"温馨之家"梦想的零售巨头——American Signature Inc.(ASI)，最终向特拉华州破产法院提交了《美国破产法》第11章保护申 请。消息如同巨石入水，激起零售市场的滔天巨浪。 ASI的倒下，并非一场突如其来的财务意外，而是一部被时代缓慢写就的悲剧史诗。故事要从零售业的"黄金时代"说起，当时，管理层错将短期的非理性 消费高峰视为永恒常态，签署了高价长租合同，并激进扩张。但转折点出现在2022年下半年，当美联储的激进加息行动将房地产市场冰封，消费者信心崩 溃，巨额利息支出如雪球般滚大，彻底吞噬了其微薄的利润... 大象，也得翻身 一张百年家具帝国的多米诺骨牌，倒下了。 转折点出现在2022年下半年，随着生活逐渐回归常态，宏观经济环境开始以惊人的速度恶化。首先，美联储为遏制通胀而采取的激进加息行动，将抵押贷 款利率推至历史高位，使得房地产市场迅速冷却。家具销售与房屋销售有着极强的正相关性——如果没人买新房，就没有人需要添置全套新家具。 近日，美国零售巨头American Signature Inc.(ASI)向特拉华州破产法院提交了《美国破产法》第11章的保护申请。 消息传 ...

Core Insights - Investors reacted positively to RH's recent performance, with the stock rising nearly 6% after the third-quarter earnings report, despite a bottom-line miss and guidance cuts [1] Financial Performance - RH's net revenue for the third quarter increased by 9% year-over-year to $884 million, while net income rose by 4% to $36.3 million [2] - The company slightly exceeded the average analyst estimate for revenue but missed the adjusted net income estimate [4] - Non-GAAP profitability per share decreased to $1.71 from $2.48 in the previous year [2] Market Position - CEO Gary Friedman noted that RH is gaining market share from various segments, including fragmented design showrooms and regional high-end furniture stores [4] - RH's revenue performance in the third quarter was favorable compared to competitors like Wayfair (up 8%), West Elm (up 4%), and Ethan Allen Interiors (down 5%) [4] Guidance Adjustments - RH adjusted its full-year guidance for 2025, now expecting revenue growth of 9% to 9.2% for 2024, down from a previous range of 9% to 11% [6] - The adjusted operating margin forecast was lowered to 11.6% to 11.9%, compared to the previous 13% to 14% [6] - The forecast for free cash flow remains unchanged at $250 million to $300 million [6] Market Data - RH's current market capitalization is $2.9 billion, with a gross margin of 44.65% [6]

天眼查App显示，近日，常州经开区横林俊鑫汇家具销售经营部（个体工商户）成立，法定代表人为曹 相阳，注册资本5万人民币，经营范围为一般项目：家具销售；家具零配件销售；智能家庭消费设备销 售；纸制品销售；塑料制品销售；包装材料及制品销售；金属材料销售；橡胶制品销售；五金产品零 售；日用品销售；办公设备销售；办公用品销售；互联网销售（除销售需要许可的商品）（除依法须经 批准的项目外，凭营业执照依法自主开展经营活动）。 ...

12月6日，由中国证券报主办的"2025科创投资大会"在合肥举行。大会以"科技金融新生态、双创融合新动能"为主题，汇聚政、产、学、研、金多方力 量，共同探讨科创与投资融合发展之路。同期，备受瞩目的金牛奖评选结果揭晓—红星美凯龙借其在上市公司规范治理、信息披露与稳健经营方面的卓越 表现，荣获"上市公司金信披奖"。作为中国资本市场最具权威性与公信力的年度评选之一，金牛奖此次授予红星美凯龙，充分体现了市场对其公司治理与 透明的高度认可。这场年度盛会500余位上市公司高管、数十家高成长企业代表以及众多行业翘楚齐聚一堂，共同见证中国股权投资领域这一荣耀时刻。 红星美凯龙荣获"上市公司金信披奖"。金牛奖是中国资本市场最具权威与公信力的年度评选之一。该奖项充分肯定了红星美凯龙在上市公司规范治理、信 息披露与稳健经营方面的卓越表现。 ...

Core Insights - The article emphasizes the importance of "localization" in brand marketing, highlighting how brands are increasingly focusing on smaller, more personalized markets rather than just major metropolitan areas [1][5] - Successful examples of localized marketing strategies are provided, showcasing how brands like IKEA and Heytea have effectively connected with local consumers through culturally relevant narratives and products [1][6] Group 1: Localization Strategies - Brands are shifting their focus from international cities to smaller, more personalized locales, integrating local dialects and cultural references into their marketing [1] - IKEA's campaign in Brighton featured local seagulls, using humor to resonate with the community and create a relatable brand image [1] - Heytea's "Snowy Yak Milk Tea" became a regional sensation in Tibet, showcasing the power of localized product offerings and storytelling [7][14] Group 2: Case Studies - Heytea's product name "Snowy Yak Milk Tea" incorporates local language and cultural elements, enhancing its appeal to both local and external consumers [14][19] - The brand organized offline tea tasting events in cities like Wuhan and Chengdu, allowing consumers to engage with the product and local culture, further solidifying its market presence [30] - Nike's marketing campaign featuring local athlete Su Bingtian highlights everyday life in Guangdong, using familiar cultural references to build a connection with consumers [35][39] Group 3: Cultural Engagement - Pupu Supermarket's entry into the Quanzhou market involved a culturally significant "prayer for business" ceremony at a local temple, demonstrating respect for local traditions [46][49] - The supermarket's ongoing engagement with local culture through themed activities has helped establish trust and recognition among consumers in a competitive market [49]

格隆汇12月10日丨美凯龙(601828.SH)公布，公司股票价格于2025年12月8日、12月9日、12月10日连续 三个交易日内日收盘价格涨幅偏离值累计达到20%。根据上海证券交易所的相关规定，属于股票交易异 常波动情形。经公司自查并向公司控股股东及其一致行动人发函核实确认，截至本公告披露日，不存在 应披露而未披露的重大信息。 ...

Core Viewpoint - The era of easy profits for Western companies in China has ended, with increasing competition and a more cautious consumer base leading to significant challenges in the market [1][3]. Market Dynamics - China's economic slowdown has made consumers more cautious, resulting in intensified competition and price wars, which have significantly compressed profit margins [3][7]. - Local competitors are rapidly gaining market share, often outpacing international brands in various sectors [4][6]. Strategic Adjustments - International brands are adapting their strategies to better align with Chinese consumer preferences, including product adjustments, faster R&D, different marketing approaches, and price reductions [3][4]. - Companies like Starbucks have had to sell majority stakes in their Chinese operations due to competition from local brands like Luckin Coffee, which has surpassed Starbucks in sales and store numbers [4][6]. Industry-Specific Challenges - The automotive sector is experiencing fierce competition, with local brands like BYD overtaking established foreign brands such as Volkswagen, which reported a 7% decline in quarterly deliveries in China [9][10]. - Volkswagen is shifting its strategy to focus on local R&D and production to better cater to Chinese consumers, highlighting the need for foreign companies to remain competitive in the local market [10][12]. Consumer Expectations - Consumer demands in China have evolved, with higher expectations for quality relative to price, prompting brands like Guerlain to introduce more affordable luxury products [14][15]. - Companies like IKEA are lowering prices on popular items and investing significantly in the Chinese market, while Procter & Gamble is focusing on innovative products tailored for Chinese consumers [16][17]. Performance Insights - Some companies are still thriving in the Chinese market, with Ralph Lauren reporting over 30% sales growth and Estée Lauder seeing a 9% increase in revenue [20]. - 3M has identified China as its fastest-growing market, emphasizing the need for rapid product development to keep pace with local manufacturers [22].