3Q25 终端需求依然充满挑战,但基本符合我们的预期:李宁3Q25 全渠道流水(不包括童装)同比下降中单位数,且趋势逐月走弱(7 月同比下降低单位数,8 月和9 月分别同比下降中单位数)。分渠道来看,直营门店流水同比下降中单位数,经销商门店流水同比下降高单位数,而电商流水同比增长高单位数。分品类来看,篮球与运动生活流水增速维持上半年的下滑趋势,而跑步与健身的流水增速也放缓至低单位数。3Q25 折扣...
Source Link3Q25 终端需求依然充满挑战,但基本符合我们的预期:李宁3Q25 全渠道流水(不包括童装)同比下降中单位数,且趋势逐月走弱(7 月同比下降低单位数,8 月和9 月分别同比下降中单位数)。分渠道来看,直营门店流水同比下降中单位数,经销商门店流水同比下降高单位数,而电商流水同比增长高单位数。分品类来看,篮球与运动生活流水增速维持上半年的下滑趋势,而跑步与健身的流水增速也放缓至低单位数。3Q25 折扣...
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