361度(1361.HK):运营数据稳健 新业态延展渠道

长江证券
09 May

事件描述公司发布2025Q1 零售运营数据,2025Q1 线下大装流水同比增长10%-15%,童装流水增长10%-15%,电商流水同比增长35%-40%,流水表现领跑同行。事件评论流水稳健增长,折扣库存稳定。2025Q1 公司线下零售仍维持双位数增长领跑同行,分月度来看,预计公司1-2 月增长强劲,3 月天气波动影响增速放缓。折扣&库存保持相对稳健,预计折扣率~7 折,库销比4.5-5 个月。超品...

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