《大行报告》高盛:李宁(02331.HK)第三季零售销售略胜预期 重申「确信买入」名单内
高盛发表研究报告指,李宁(02331.HK)第三季零售销售录中单位数增长,稍高於市场预期。其中,电商增长约40%,而线下录低单位数跌幅。虽然假期转变在9月带来负面影响,但销售动力自8月底起转强,加上敦煌时装展的成功,再次展示李宁强劲的产品和品牌动力。随着电商利润提升,相信未来可以支持利润扩张。在去年基数较高的情况下,今季的表现令人惊喜。
黄金周表现亦稳健,线下销售增长接近30%。高盛维持对公司品牌动力、销售复苏和利润增长看法正面,目标价由36.5元上调至44元,维持在「确信买入」名单。
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