波司登(03998.HK):防曬衣銷情符預期 庫存周轉天數微增至118天
內地羽絨服製造商波司登(03998.HK)已公布年度業績。執行董事兼執行總裁梅冬表示,當前防曬衣的銷售情況符合公司預期。集團會持續強化羽絨服市場,並推動品類多元化發展。
庫存方面,梅冬指,2025財年的庫存周轉天數為118天,按年上升3天,但仍屬於相若水平,顯示集團能有效控制庫存。她指,集團持續保持較低的首次訂單比例,並採用拉式補貨和小單快反的調節機制,推進全渠道商品一體化營運管理。
集團毛利率跌2.3個百分點至約57.3%。當中,品牌羽絨服業務毛利率降1.6個百分點至63.4%,執行董事兼副總裁黃巧蓮指,是由於渠道結構及產品品類變化,加上成本上升所導致,並表示集團將加大渠道部署,又會謹慎部署,不會盲目開店。
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