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特步国际(01368.HK):索康尼渗透专业跑者圈层
Ge Long Hui· 2025-07-27 19:15
Group 1 - The core viewpoint of the articles highlights the performance and growth of the brands Xtep and Saucony, with Xtep showing modest growth and Saucony experiencing significant increases in retail sales [1][2][3] - In Q2 2025, Xtep's main brand retail sales (including online and offline channels) saw a low single-digit year-on-year growth, with retail discount levels ranging from 70% to 75% [1] - In H1 2025, Xtep's main brand retail sales experienced a mid-single-digit year-on-year growth, while channel inventory turnover was between 4 to 4.5 months [1] Group 2 - Saucony's retail sales (including online and offline channels) grew by over 20% year-on-year in Q2 2025 and over 30% in H1 2025 [1] - Xtep has been actively sponsoring events to deepen its presence in the basketball sector and solidify its leading position in running, including becoming the official supporter of the 2025 World Athletics Relays and the designated equipment sponsor for the 7th Asian University 3x3 Basketball Championship [1] - Xtep's performance in marathons has been notable, with its champion running shoes winning the top three positions in the 2025 Hangzhou Women's Half Marathon, further establishing Xtep as China's leading running brand [2] Group 3 - Saucony is expanding its reach into the professional runner segment, as evidenced by its annual conference featuring elite athletes and industry professionals to promote its new TRIUMPH 23 running shoes [2] - The TRIUMPH series has evolved over 23 years, focusing on cushioning performance and catering to both casual and long-distance runners [3] - The company maintains its profit forecast, expecting revenues of 14.7 billion RMB, 15.8 billion RMB, and 17 billion RMB for 2025-2027, with corresponding net profits and EPS figures [3]