太平鸟(603877)上半年收入下滑13%，持续推进渠道优化

国信证券08-23

核心观点上半年收入下滑13%，归母净利润承压，库存改善。公司是国内中高端快时尚服装集团。2024上半年受整体零售环境影响，收入同比-12.7%至31.5亿元，归母净利润同比下降31.7%至1.7亿元，扣非归母净利润同比下降63.6%至0.7亿元，非经项目主要为政府补助同比+38.8%至1.2亿元。毛利率小幅下降2百分点至56.2%，受负向经营杠杆影响，销售费用率同比+2.6百分点，归母净利率同比...

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