这一成绩的背后，是一场围绕 "回归运动"展开的战略部署。 自去年 10月Elliott Hill出任集团总裁兼CEO以来，耐克启动了以回归运动为核心的"Win Now"计划。目前，该计划已进入全面落地阶段。 随着转型在全球范围内加快执行，耐克报表口径收入再次实现同比正增长。其中，跑步业务全球增长约 20%，成为拉动复苏的重要引擎。 库存问题得到显著缓解。截至本季度，耐克集团库存资产为 81亿美元，同比下降2%，库存结构持续优化，为后续业绩反弹创造了有利条件。 在财报发布后的声明中， Elliott Hill表示："尽管取得了阶段性进展，我们仍将继续推动所有运动品类、地区和渠道走上同样的复苏轨道。"他强 调，"'Win Now'计划的聚焦方向是正确的，'以运动为引领'的新架构将成为关键，长期推动耐克集团的全品类业务释放增长潜力。" 如今，市场关心的已不再是耐克能否止血，而是它将如何通过一场由内而外的系统性焕新，重新掌控游戏规则。 "Just Do It"与时代共振，系统性焕新回应质疑 耐克重返主场的速度，比市场预想的更快。 2026财年第一季度，耐克集团营收达117亿美元，同比增长1%，高于市场预期的109.9 ...

Core Viewpoint - The article highlights the significant issue of women's sports shoes, particularly for those with larger sizes, being largely unavailable in the market, despite the growing interest in women's sports and the "she economy" [5][30]. Group 1: Market Demand and Supply Gap - Female consumers, especially those with shoe sizes over 40, are facing a shortage of options in women's sports shoes, often having to resort to men's shoes as alternatives [2][9]. - The lack of availability of women's sports shoes, particularly in larger sizes, contradicts the booming female sports market, where brands are publicly committing to increasing their focus on female consumers [5][6]. - Research indicates that the absence of larger women's sizes in sports shoes is a long-standing issue, with many brands failing to adequately address the needs of female athletes [14][30]. Group 2: Design and Fit Issues - The anatomical and physiological differences between men and women necessitate specific designs for women's sports shoes to ensure comfort and performance [19][22]. - Studies show that women are more prone to certain foot conditions, which underscores the need for specialized footwear that caters to their unique requirements [20][22]. - The current market often overlooks these design needs, leading to a situation where women's shoes are not only limited in size but also in appropriate design features [35][39]. Group 3: Consumer Behavior and Market Trends - As more women engage in sports, they are becoming a significant consumer group, with higher spending on sports apparel and footwear compared to men [30][31]. - Social media discussions reveal a growing frustration among female consumers regarding the lack of suitable sports gear, indicating a demand for more inclusive product offerings [34][40]. - The article suggests that the ongoing neglect of women's footwear needs is a reflection of a broader issue within the sports equipment market, where women's requirements are often sidelined [39][40].

Core Insights - The female consumer segment is significantly influencing the sports consumption market in China, with a notable increase in participation and diverse preferences in sports products [1][2] Group 1: Market Trends - In 2024, the top three types of sports products purchased by female consumers in China are sports shoes (76.8%), sports apparel (71.6%), and sports underwear (51.8%), with 33.3% purchasing sports equipment [1] - The demand for sports equipment among female consumers is diversifying, moving beyond traditional fitness devices to include aesthetically pleasing and functional items like detachable hula hoops and "macaron" colored fitness gear [1] Group 2: Consumer Preferences - Female consumers are increasingly prioritizing both the functionality and visual appeal of sports products, leading to a shift in product development strategies within the industry [2] - The preference for different types of gyms is evident, with 60.7% of female consumers opting for commercial gyms, 46.7% attending group class gyms, and 38.1% using shared gyms [1] Group 3: Industry Response - The rapid growth of the female sports consumption market is driven by the release of segmented demands under the trend of consumption upgrading, prompting companies to innovate and adapt their offerings [2] - Brands are encouraged to focus on combining functionality with aesthetics in product design and to enhance the quality of the sports environment to better cater to female consumers [2]