特步国际(01368)午后跌幅扩至5.22% 大和指次季行业RSV放缓降低其短期可预测性

金吾财讯07-07

金吾财讯 | 特步国际(01368)午后跌幅扩大，截至发稿，报3.63港元，跌5.22%，成交额4151.2万港元。消息面上，大和发表研究报告指，最新的渠道检查显示，今年第二季体育用品行业的零售销售价值(RSV)按季放缓，且RSV按月波动增加，进一步降低了特步的短期可预测性。同时，特步核心品牌转型会打乱批发销售业务，并需要前期投入，因此或会分薄特步的短期收入和利润率。尽管Saucony品牌可以继续保持高增长，但核心特步品牌或面临增长放缓及竞争加剧所带来的挑战。该行下调特步今年的每股盈测约12%，将目标价由5.2港元降至3.9港元，评级由“跑赢大市”降至“持有”。

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