6月26日晚, 波司登 发布2025财年业绩报告。报告显示,2025财年波司登营收259.02亿元,同比增长11.58%;净利润35.14亿元,同比增长14.31%。从表面上看,波司登似乎仍在增长的轨道上,但深入剖析这份财报,却能发现诸多问题。先看毛利率,2025财年波司登毛利率同比下降2.3个百分点至57.3%。公司方面将原因归结为产品品类结构变化和羽绒服成本上升,新推出的防晒服等品类毛利率相对...
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