进一步将"社区+体验"的品牌理念渗透至本地消费者。同时将持续打造具有差异性的运动服饰，在瑜 伽、跑步、训练、网球和高尔夫这些品类继续拓展。 lululemon首席执行官Calvin McDonald表示："作为lululemon全球第二大市场，第二季度中国大陆业务净 营收同比增长25%，按固定美元计算增长24%。本季度我们在中国大陆新开设了五家门店，并持续通过 多样化的活动与体验提升品牌知名度，其中包括引发参与热潮的第五届'夏日乐挑战'。而美国市场的业 绩和部分产品表现未达预期。对此，我们已深入评估，并将继续采取必要措施，以优化商品组合、加速 业务发展。" 加拿大瑜伽运动品牌 lululemon露露乐蒙（纳斯达克证券代码：LULU）近日发布截至8月3日 的2025财年第二财季业绩报告：全球净营收同比增长7%至25亿美元，净利润录得3.709亿美 元。中国大陆市场净营收以25%的同比增幅成为推动lululemon增长的关键引擎，是全球第二 大市场。而第一大市场美洲则仅增长1%。 8月23日，2025年"夏日乐挑战"全国总决赛在成都圆满收官。 在市场方面，国际市场净营收同比增长22%，美洲市场净营收增长1%至17 ...

每经AI快讯，LULULEMON股价暴跌20%，此前大幅公司下调了年度业绩预期。 （文章来源：每日经济新闻） ...

Core Viewpoint - The recent controversy surrounding 361° and its endorsement of marathon runner Zhang Shuihua has led to a significant backlash, resulting in the termination of their partnership and raising concerns about the brand's reputation and sales performance [2][4][7]. Company Performance - 361° reported a revenue of 5.705 billion RMB for the first half of 2025, marking an 11.0% year-on-year increase, and a net profit of 858 million RMB, up 8.6% [15][16]. - Despite the positive financial results, the company's stock price fell over 12% following the earnings announcement, leading to a market value loss of approximately 1.2 billion HKD [5][15][17]. - The company's gross margin increased by 0.2 percentage points to 41.5%, while the operating profit margin decreased by 0.7 percentage points to 19.9% [16][19]. Market Position and Strategy - 361° has adopted a cost-effective strategy, with 52.2% of its products priced below 200 RMB, which has helped it achieve significant revenue growth in previous years [25][26]. - The brand's focus on value-for-money has been challenged by competitors who are moving towards high-end and diversified product lines, raising questions about 361°'s long-term growth potential [28][29][32]. - The company has not engaged in any recent acquisitions to diversify its offerings, which contrasts with competitors like Anta and Xtep that are expanding into high-end markets [29][31]. Brand Image and Consumer Perception - The choice to endorse a "grassroots" athlete like Zhang Shuihua was initially seen as a way to connect with consumers, but the subsequent controversy has damaged the brand's image [12][14]. - The incident has highlighted the risks associated with using non-celebrity endorsements, as public perception can quickly shift and impact brand reputation [12][14]. - 361°'s brand identity is heavily tied to its value proposition, making it difficult to pivot towards higher-end products without losing its established consumer base [28][32].

Market Movements - US stock index futures showed mixed results with Dow futures down 0.05%, S&P 500 futures up 0.22%, and Nasdaq futures up 0.53% [1] - European indices also experienced slight gains, with Germany's DAX up 0.11%, UK's FTSE 100 up 0.29%, France's CAC40 up 0.12%, and the Euro Stoxx 50 up 0.21% [2][3] Oil Prices - WTI crude oil fell by 0.76% to $63.00 per barrel, while Brent crude oil decreased by 0.63% to $66.57 per barrel [3][4] Employment Market Insights - The upcoming non-farm payroll report is expected to show a weak job growth of only 75,000 jobs added in August, marking the fourth consecutive month below 100,000 [5] - The unemployment rate is projected to rise to 4.3%, the highest since 2021, indicating a cooling labor market [5] - A significant downward revision of up to 800,000 jobs is anticipated in the upcoming report from the Bureau of Labor Statistics [5] Federal Reserve Outlook - New York Fed President Williams indicated that tariffs have not significantly impacted overall inflation, easing potential concerns for the Fed regarding interest rate cuts [6] - The Fed is under pressure to support the slowing labor market, with high interest rates contributing to a cooling job market [6] Employment Market Indicators - A key leading indicator in the US employment market, the voluntary turnover rate in the construction industry, has dropped to 0.9%, the lowest since the 2008 financial crisis [7] Company News - Broadcom (AVGO.US) reported a strong Q2 with revenues up 22% year-over-year to $15.95 billion, exceeding market expectations [8] - Lululemon Athletica (LULU.US) lowered its full-year guidance for the second time, projecting revenues between $10.85 billion and $11 billion, below previous estimates [9] - Apple (AAPL.US) achieved record sales in India, nearing $9 billion, reflecting strong demand for its flagship products [9] - Texas Instruments (TXN.US) CFO warned that semiconductor demand recovery is slower than expected, particularly in the automotive sector [10] - Starbucks (SBUX.US) is reportedly receiving bids up to $5 billion for its China business, making it one of the highest-value divestitures in recent years [10]

新京报贝壳财经记者 王真真 编辑 王进雨 实习生 郭栩君 "最快女护士"张水华在夺得马拉松比赛冠军后哭诉"望领导支持调休跑马拉松"，争议也在361度直播间激起水花。 根据报道，9月3日，361度官方旗舰店直播间内，正在带货的主播将写有《361度与"最快女护士"马拉松跑者已解约》的报道打印，并放在了屏幕前方，同 时直播间显示着"已解约，提倡运动，更热爱生活"字样。 新京报贝壳财经记者注意到，张水华此前的个人抖音页面中标注"路跑签约品牌361度"字样，抖音账号也曾发布带有361度品牌logo和"361度签约精英跑者 张水华"的海报。事件发生后，"路跑签约品牌361度"以及所属MCN的标注已经删除。 9月5日，361度方面向新京报贝壳财经记者表示，目前未有明确的对外声明。"光速切割"背后，361度在代言人投放等广告与宣传方面的策略引发了关注。 作为运动品牌，361度选择了哪些人或领域作为目标代言投放，在广告与宣传方面的投入情况又如何？ "押宝"体育明星 上半年披露29位代言人 8月31日，在2025哈尔滨马拉松比赛上，来自福建医科大学附属第一医院的"最快女护士"张水华，以2小时35分27秒刷新个人最好成绩，获得国内 ...

"押宝"体育明星的生意经。 "最快女护士"张水华在夺得马拉松比赛冠军后哭诉"望领导支持调休跑马拉松"，争议也在361度直播间激起水花。 根据报道，9月3日，361度官方旗舰店直播间内，正在带货的主播将写有《361度与"最快女护士"马拉松跑者已解 约》的报道打印，并放在了屏幕前方，同时直播间显示着"已解约，提倡运动，更热爱生活"字样。 新京报贝壳财经记者注意到，张水华此前的个人抖音页面中标注"路跑签约品牌361度"字样，抖音账号也曾发布带 有361度品牌logo和"361度签约精英跑者张水华"的海报。事件发生后，"路跑签约品牌361度"以及所属MCN的标注 已经删除。 9月5日，361度方面向新京报贝壳财经记者表示，目前未有明确的对外声明。"光速切割"背后，361度在代言人投 放等广告与宣传方面的策略引发了关注。作为运动品牌，361度选择了哪些人或领域作为目标代言投放，在广告与 宣传方面的投入情况又如何？ "押宝"体育明星，上半年披露29位代言人 8月31日，在2025哈尔滨马拉松比赛上，来自福建医科大学附属第一医院的"最快女护士"张水华，以2小时35分27 秒刷新个人最好成绩，获得国内女子组冠军。作为医护人员 ...

Core Insights - Lululemon reported a 7% year-over-year increase in global net revenue for Q2 FY2025, reaching $2.5 billion, with international revenue growing by 22% and revenue in the Americas increasing by 1% [1][2] - Comparable sales in the Americas declined by 4%, and the company experienced decreases in gross margin, operating income, and operating margin [1] - The CEO highlighted strong growth in international markets, particularly in mainland China, where revenue increased by 25% year-over-year [1] - The CFO noted that while earnings per share exceeded expectations, overall revenue fell short of guidance due to U.S. market performance, prompting an adjustment in full-year performance expectations [1][2] Financial Performance - Total inventory at the end of Q2 FY2025 was $1.7 billion, a 21% increase compared to $1.4 billion at the end of Q2 FY2024 [2] - For Q3 FY2025, Lululemon expects net revenue to be between $2.47 billion and $2.5 billion, representing a growth of approximately 3% to 4% [2] - The company anticipates full-year net revenue for FY2025 to be between $10.85 billion and $11 billion, reflecting a growth of about 2% to 4% [2] - Expected diluted earnings per share for FY2025 is projected to be between $12.77 and $12.97 [2] Strategic Initiatives - The company plans to open approximately 15 new stores in the Americas in FY2025, with nearly half located in Mexico [1] - China will be a key focus for new store openings in the international market [1]

点击蓝字，关注我们 蔚来（NIO.US) 蔚来2025年上半年的业绩呈现"曙光初现但挑战仍存"的局面，即 销量和营收增长，但亏损仍存 。 核心财务数据 | 指标 | 25H1 数据 | 同期对比 | | --- | --- | --- | | 总营收 | 310.43 亿元(约 43.33 亿美元) | 增长 13.5% | | 汽车交付 물 | 11.42万辆 | 增长 30.6% | | 净亏损 | 117.45亿元(约16.4亿美元) | 亏损扩大 15.15 亿元 | | 综合毛利 图 | 9.07% | 提升 1.11 个百分点 | | 现金储备 | 272亿元(截至Q2末) | 环比增长 12亿元 | | 研发投入 | 二季度单季 30.1 亿元 | 同比下降 6.6% | 业绩亮点 销量与收入双增长 ：这主要得益于二季度的强劲反弹（交付量环比增长71.2%）以及多品牌战略的初 步成效。蔚来旗下三大品牌（蔚来、乐道、萤火虫）覆盖了不同价位的市场，特别是乐道L90上市后 表现亮眼，首月交付便破万。 毛利率稳步回升 ：二季度综合毛利率回升至10.0%，这主要得益于自研技术带来的降本效果（例如自 研芯片 ...

加拿大运动服零售商Lululemon(LULU.US)夜盘跌约15.7%，报 173.77美元。 消息面上，Lululemon公布第二财季业绩，营收同比增长7%至25.3亿美元，略低于预期的25.4亿美元； 净利润同比下降5%至3.71亿美元，合每股盈利3.1美元，高于市场预期的2.88美元；毛利率下降1.1个百 分点，至58.5%。期内整体同店销售增长1%，逊预期的2.2%，其中美洲录同店销售下降4%。 Lululemon预计关税将使其全年利润减少2.4亿美元，并再次下调全年业绩指引，目前预计全年每股盈利 将介于12.77至12.97美元之间，远低于市场预期的14.45美元；收入将介于108.5亿至110亿美元之间，亦 低于预期的111.8亿美元。(格隆汇) ...

特步国际 202509004 摘要 特步国际近期销售表现优于同行，主要得益于新品发布（如 160×7 和 X7 Pro）和专业影响力，冠军系列碳板跑鞋预计销量达 800 万双，马拉 松赛场穿着率达 50%，远超第二名耐克，成功建立品牌在跑者心目中的 地位。 特步通过不同价位段产品覆盖更广泛的消费者，高端市场有 160、260 和 360 系列，大众市场则有青云系列，价格从 299 元到 799 元不等， 满足不同消费层次需求，并通过功能性设计吸引更多用户，同时注重电 商平台的发展。 特步童装业务增速高于成人业务，通过品牌升级和针对体考需求开发功 能性产品，吸引 8 至 12 岁核心顾客群，并与高校合作进行数据采集和 研究，开发更符合儿童发育需求的新产品，提升产品竞争力和家长信任 度。 尽管 2025 年上半年毛利率因服装类产品占比增加而下滑，但公司预计 随着规模效应显现和品牌力提升，毛利率将逐步上升，OG 系列毛利率 压力有望缓解。 Q&A 请介绍一下特步国际近期的经营情况。 今年七八月份的销售流水与预期相符，表现优于六月份。尽管整个行业竞争激 烈，我们仍保持了稳定的库存周转，目前在 4 至 4.5 个月左右 ...