当规模扩张遭遇利润失速,名创优品陷“焦虑”三重门

Ofweek维科网
May 28, 2025

撰稿|何威来源|贝多财经管理学中,“增长陷阱”被用来描述企业在扩张中陷入“表面增长”与“利润失真”的典型困境。名创优品(HK:09896、NYSE:MNSO)正在这一临界点上。“增收”仍在继续,势头已然放缓;“增利”骤然失速,利润如何止跌,成为摆在其面前的关键考题。2025年一季度,名创优品交出了一份“增收不增利”的成绩单。一季报财务数据显示,其实现营收44.27亿元,同比增长18.9%,然而利润...

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