Guosen Securities: Maintains "Outperform" rating on 361 Degrees (01361.HK); Q3 sales grew mid-single digits.

Zhitong Finance APP has learned that Guosen Securities has released a research report stating that 361 Degrees (01361.HK) delivered generally solid retail performance in the third quarter of 2026, with offline retail sales of the main brand increasing by a mid-single-digit percentage year on year, and offline retail sales of the children's wear brand also rising by a mid-single-digit percentage year on year. Both the core brand and the children's business continued their sound growth momentum; overall gross merchandise value on e-commerce platforms recorded mid-to-high single-digit positive growth year on year, with online channels continuing to expand at a relatively rapid pace; discounts edged down to 30% off, while inventory remained stable. The bank maintained its earnings forecasts, expecting the company's net profit attributable to shareholders for 2026-2028 to be 1.48/1.62/1.74 billion yuan, up 12.9%/9.8%/7.3% year on year, and maintained its "Outperform" rating.