李宁：短期仍有压力 2H25保持投入姿态

中金公司2025-07-15

公司近况公司公布二季度经营情况：2Q25 李宁品牌（不含李宁YOUNG）全平台零售流水同比增长低单位数，李宁品牌单季度零售点净增加11 个。评论2Q25 批发渠道继续好于直营，库存健康，大环境波动下折扣面临压力。2Q25 李宁品牌（不含李宁 YOUNG）零售流水同比增长低单位数，环比1Q25 有所放缓。分渠道来看：线下直营渠道零售流水同比下滑中单位数，期内直营零售点净减少13 个；线下批发渠道零售...

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