特步国际主品牌稳健,索康尼主动调整电商策略

浙商证券
Jul 17, 2025

投资要点公司发布2025Q2运营情况,特步主品牌流水低单增长,维持稳健增长态势;索康尼流水同比+20%以上,环比降速主要系电商渠道收紧折扣并调整低价产品。主品牌:Q2流水低单增长,维持稳健增长态势特步主品牌25Q2流水同比增长低单,25H1流水同比增长中单,受跑步品类和电商渠道拉动,整体维持稳健增长态势。Q2分月来看,4-5月流水表现好于6月;分渠道来看,电商增长较好,线下流水持平微增;分品类,...

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