（以下内容从中国银河《纺织服饰行业周报 · 纺织服饰行业：海外体育服饰业绩分化，景气赛道表现更优》研报附件原文摘录）核心观点海外体育品牌发布2025年报，业绩表现呈现分化：1）亚瑟士2025全年经汇率换算后实现营收363.6亿元，同比增长19.5%，毛利率56.8%，同比增长1pct，全年录得净利润44.26亿元，同比增长54.7%，净利率为12.17%。其中专业跑步品类为核心驱动，全年实现营收...
Source Link（以下内容从中国银河《纺织服饰行业周报 · 纺织服饰行业：海外体育服饰业绩分化，景气赛道表现更优》研报附件原文摘录）核心观点海外体育品牌发布2025年报，业绩表现呈现分化：1）亚瑟士2025全年经汇率换算后实现营收363.6亿元，同比增长19.5%，毛利率56.8%，同比增长1pct，全年录得净利润44.26亿元，同比增长54.7%，净利率为12.17%。其中专业跑步品类为核心驱动，全年实现营收...
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