周五盘中，体育用品零售商滔搏（06110）股价大涨5.37%，引起市场广泛关注。
根据交银国际的最新研报，滔搏2026财年第一季度（相当于2025年自然年第二季度）的业绩显示，公司总销售额同比下滑中单位数。尽管整体销售面临压力，但公司线上渠道表现较为亮眼。报告指出，第一季度直营的线上销售占比已提升至40%，相比2025财年30-40%的水平有所提高。这一数据表明，滔搏在推动线上业务方面取得了积极进展。
然而，研报也指出了一些挑战。线下客流持续疲软，延续了上一季度的趋势，仍录得双位数下降。此外，行业促销环境预计将持续，可能对公司利润率造成压力。基于这些因素，交银国际下调了滔搏2026-27财年的盈利预测。
尽管面临这些挑战，投资者似乎对滔搏在当前零售环境下的表现持积极态度，特别是其线上业务的增长潜力。这可能是推动股价上涨的主要因素。然而，考虑到整体市场环境的不确定性，投资者仍需谨慎关注公司未来的业绩表现。
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