CROSBY Research – 361 Degrees (1361 HK/BUY): More Super Premium Stores were opened in 2Q25

15 Jul 2025

361 Degrees announced its 2Q25 operational results, with offline retail sales for its 361° Core Brand recorded a ~10% growth YoY (1Q25: +10%-15%, 2Q24: +10%), while 361° Kids was up by ~10% growth YoY (1Q25: +10%-15%, 2Q24: +mid-teens). Online sales continue to grow healthily and recorded a ~20% YoY sales growth during the period (1Q25: +35%-40%, 2Q24: +30%-35%), with kids segment fare better than adultwear. Retail inventory turnover was at a healthy level of 4.5-5 months (flat QoQ), while the retail discount level was at around 29% (1Q25: 30%).