作者：平徒秉宗 来源：原创 发布日期：08-26
一 | On the one-year anniversary of US forces’ hasty withdrawal from Afghanistan after a 20-year deployment, there is renewed focus on the decision-making made by the Joe Biden administration that resulted in the swift fall of the Afghan government and the eventual return to power of the Taliban* Islamist group.,With the Democratic POTUS’ approval rating hitting historic lows and eating away at his party’s November midterm prospects, it is commonly believed that his handling of the Afghan crisis at the time of the pull-out created the momentum that began to drag down Americans’ confidence in Biden’s leadership.,The United States-led military offensive "Operation Enduring Freedom" was originally launched by former US President George W. Bush in pursuit of terrorists from Al Qaeda** - including leader Osama bin Laden - for masterminding the September 11, 2001 attacks in the US.,At the time, a series of four coordinated terrorist attacks by the Islamist terrorist group Al Qaeda killed 2,996 people in the US as hijackers crashed two planes into the World Trade Center, hijacking another that failed to reach its target, crashing in Shanksville, Pa., and a third that struck the west side of the Pentagon.,© AP Photo / AMY SANCETTASmoke billows from the North and South Towers of the World Trade Center before they collapsed on September 11, 2001 in New York, NYSmoke billows from the North and South Towers of the World Trade Center before they collapsed on September 11, 2001 in New York, NY© AP Photo / AMY SANCETTA,After suspicion fell onto Al Qaeda, the United States responded by launching the War on Terror and invading Afghanistan under the pretext that the Taliban had failed to comply with Washington’s demands to expel Al Qaeda from the country and extradite the terrorist group’s leader, Osama bin Laden. American-led forces overthrew the Kabul-based Taliban government, which had been in control of large parts of the country since 1996.,Bin Laden was eventually killed nearly a decade later, in 2011, by a group of Navy SEALs who raided his compound in Pakistan. As Washington's attempt to impose Western ideas and forms of government on the country increasingly failed and the situation deteriorated for the Western-backed government in Kabul, the Donald Trump administration opened peace talks with the Taliban.,In February 2020, the Donald Trump administration signed an agreement in Doha, Qatar, between the US and the Taliban on drawing down US involvement based on a "reduction in violence." The "Agreement for Bringing Peace to Afghanistan" set out a series of commitments from the US and the Taliban regarding troop levels, counterterrorism, and intra-Afghan dialogue seeking to bring about "a permanent and comprehensive ceasefire.",The deal stipulated a deadline of May 1 the next year for all US troops to leave the country.,However, in April 2021, President Joe Biden, just seven months into his presidency, unilaterally deviated from the peace deal by extending the timeframe to September 11 and ordered all troops to withdraw from the country by an end of August 2021 deadline, with his decision triggering chaos and bloodshed.,‘Failed Intel’,As the US military began their pull-out, sending home troops and equipment, the emboldened Taliban proceeded with a lightening-swift onslaught. They took over huge swathes of the country, facing little resistance and picking up weapons and vehicles paid for by the US government which Afghan government troops left behind.,US 'Lost Track' of Afghan War Aims, Says Retired Marine General12 August, 17:00 GMT,Afghan officials, including the country’s president, Ashraf Ghani, fled, as the country’s capital, Kabul, was taken over by the militants on August 15, 2021 in a matter of hours.,None of the US intelligence assessments had predicted such a swift collapse, with American officials insisting in June that Kabul could capitulate within six to 12 months after the start of the withdrawal. Amid reports of failed intel forecasts, then-Pentagon spokesman John Kirby acknowledged that security in some parts of Afghanistan was “certainly deteriorating, and that’s of concern.” Washington continued to emphasize “commitment to the people of Afghanistan” and the goal of “ensuring that Afghanistan never again becomes a safe haven for terrorist groups who pose a threat to the US homeland.”,Amid the developments, the Biden administration debated whether to delay the American departure from Bagram Air Base, 35 miles north of Kabul, but eventually opted to go ahead. Army Gen. Mark A. Milley, the chairman of the Joint Chiefs of Staff, had told the House Armed Services Committee that “it is not necessary for the United States to stay at Bagram for what we’re going to try to do here with Afghanistan.”,Civilians Caught in Crossfire,As the Taliban regained full control, more than 120,000 people, including Afghans and foreigners, were frantically evacuated in a vast airlift operation from Kabul International airport. Thousands of Afghan citizens desperately sought to flee the country in fear of the Islamist group’s return to rule.,Exclusive- A clear video (from other angle) of men falling from C-17. They were Clinging to some parts of the plane that took off from Kabul airport today. #Talibans #Afghanistan #Afghanishtan pic.twitter.com/CMNW5ngqrK— Aśvaka - آسواکا News Agency (@AsvakaNews) August 16, 2021,Searing images from the capital’s airport showed desperate people trying to cling to the wings of planes that were taking off amid the huge airlift operation. Many Afghans who collaborated with the occupying US forces and feared retribution from the Islamist group were left behind in the hasty evacuation. Between 100 and 200 Americans remained in Afghanistan, despite wanting to get out.,© AP Photo / Wali SabawoonSmoke rises from a deadly explosion outside the airport in Kabul, Afghanistan, Thursday, Aug. 26, 2021. Smoke rises from a deadly explosion outside the airport in Kabul, Afghanistan, Thursday, Aug. 26, 2021. © AP Photo / Wali Sabawoon,Furthermore, 13 US troops were killed on August 26 in a suicide bomb attack blamed on an Afghan offshoot of Daesh***.,The explosive device detonated by a single bomber who was able to approach Kabul International Airport's Abbey Gate killed at least 170 Afghan civilians and 13 US service members. The bomber was not stopped as Afghans had begun using alternate routes to the gate due to the difficulty of getting through Taliban checkpoints.,In another deadly incident that marred the withdrawal, a botched US drone strike killed 10 civilians - seven of them children - on August 29.,WorldCIA Reportedly Warned US Military of Likely Presence of Children Near Afghan Drone Strike Target 19 September 2021, 08:56 GMT,The US claimed it had been targeting a Daesh operative with a car full of explosives linked to the terrorist group’s affiliate, planning an imminent attack on American forces during the final days of the evacuation. However, the man turned out to be a longtime Afghan aid worker, Zamarai Ahmadi, employed by Nutrition and Education International, a nongovernmental organization focused on food security.,Approximately three weeks after the strike, the military acknowledged its "tragic mistake," yet a subsequent Air Force review around the strike found "no violation of law, including the law of war.",The last US aircraft left Kabul on August 30, 2021.,AfghanistanKirby Under Fire After He 'Takes Issue With Premise' US Handed Afghanistan to 'Terrorist Group'3 August, 09:54 GMT,Joe Biden’s administration faced bipartisan criticism for the Afghan withdrawal.,On August 17, just two days after the fall of Kabul, National Security Adviser Jake Sullivan promised the White House would “conduct an extensive hot wash” and “look at every aspect of this from top to bottom.” But it remains unclear when any progress will be made by the congressionally-ordered bipartisan 16-member commission on the 20-year Afghan war, US media reported.,NBC News: Biden Admin Prepping Unified Message on Anniversary of Botched Afghan Withdrawal11 July, 16:09 GMT,The White House is believed to have geared up for congressional investigations into the Afghanistan withdrawal if Republicans win the House or the Senate in November’s midterm elections, according to sources cited in US media reports.,* The Taliban is an organization under UN sanctions over terrorist activities.,**Al-Qaeda is a terrorist group banned in Russia and many other countries.,*** Daesh, also known as ISIS/IS/Islamic State, is a terrorist group banned in Russia.。 日前，安德玛公布2027财年第一季度业绩，其季度营收同比下降3%至11亿美元。但同时，安德玛盈利指标得以改善，当期毛利率同比提升5.9个百分点至54.1%，营业利润从去年同期的330万美元增至4670万美元，净利润也实现转正。2026财年年度亏损接近5亿美元的安德玛，要迎来业绩拐点了吗？本土市场与亚太市场“双失速”将时间拉回3个月前。5月12日，安德玛发布2026财年第四季度及全年业绩：第四财季营收同比下降1%至12亿美元，毛利率下降470个基点至42%，净亏损为4300万美元；2026财年全年营收下降4%至50亿美元，毛利率下降240个基点至45.5%，净亏损达4.96亿美元。彼时，创始人凯文·普朗克自2024年回归CEO后启动的转型计划已推进两年，其核心重组策略包括组织裁员、收紧折扣、砍掉产品线、聚焦品类、转向国际等。然而，连续十个季度的营收下滑、2026财年全年的亏损，让市场对这套方案产生了质疑。安德玛线下门店。
二 | 仅一个季度之后，情况似乎出现了转机。
三 | 在截至2026年6月30日的2027财年第一财季，安德玛毛利率和营业利润实现提升，但财报显示，这主要受益于一笔与关税相关的退款，“毛利率从48.2%上涨至54.1%，主要得益于供应链带来的690个基点的有利影响，其中包括因回收上一年度美国部分关税而产生的640个基点。”换言之，本季度利润的大幅改善或并非源于经营面的根本性反转。
四 | 值得关注的是，安德玛正在本土成熟市场和战略增长极亚太地区面临“双失速”。分地区来看，北美地区收入下降9%，亚太地区收入下降6.6%，欧洲、中东和非洲地区收入增长12.1%，拉丁美洲收入增长7.7%。财报中称，本季度市场环境仍充满挑战，尤其在北美和亚太地区，消费者需求减弱，市场促销活动增加，企业也在持续优化产品矩阵和提升市场质量。分渠道来看，安德玛批发渠道收入收缩2%至6.38亿美元，直营渠道收入下降6%至4.37亿美元，其中电商渠道收入在各地区均有所下跌，在消费持续向线上迁移的大趋势下，这无疑是一个危险信号。
五 | 转型中遇棘手难题凯文·普朗克回归后推行的转型策略至今已有两年，但转型从来不是一件容易的事情。
六 | 从产品品类来看，本季度安德玛服装收入减少2%至7.34亿美元，鞋类收入减少8%至2.45亿美元，配件收入减少4%至9600万美元。鞋类业务的持续萎缩值得警惕。2025年11月，安德玛与库里品牌达成战略分拆协议，结束了近13年的合作，库里品牌脱离安德玛体系，转向独立运作。失去了这个最大的文化符号，对品牌已经承压的鞋类业务而言，无异于“雪上加霜”。长期缺乏标志性爆款鞋款，独家科技辨识度弱化……从产品研发与品类布局来看，安德玛如何聚焦资源补齐鞋类业务短板，已成为转型中的棘手难题。“安德玛在产品专业性、创新能力上难以匹敌行业对手，而该短板需要较长时间来补齐，这或是其聚焦市场、收缩战线的重要原因，资源只有向核心业务集中才能形成竞争合力。”运动鞋服行业专家马岗对中国商报记者表示，“从这个层面来看，依托品类聚焦优化资源布局，才能重塑消费者对品牌的印象。”实际上，安德玛从专业速干紧身衣起家，原本具有的功能性能壁垒却未能在后续发展中持续加固。在目前的市场上，耐克手握Air独家技术，阿迪达斯拥有Boost缓震科技，Lululemon则依托独有的面料科技与剪裁体系，搭建起瑜伽服细分赛道的护城河。反观安德玛，HeatGear、HOVR、Flow等技术虽在矩阵中逐一罗列，却没能从中“长”出一个被消费者广泛记住的新一代招牌符号。凯文·普朗克在财报中也表示：“品牌正在稳固盈利水平的同时，持续加码产品创新与品牌建设，后续也将依靠差异化产品组合与清晰的品牌定位巩固高端市场形象。”今年以来，安德玛围绕产品、品牌传播多维布局，动作频频。
七 | 4月启动“这就是腰旗”全年推广企划，押注腰旗橄榄球这个小众赛道；与数字化品牌服务公司Monks深化合作，试图在亚太市场扩张品牌影响力；同时与本土设计师Feng Chen Wang建立长期创意合作。但渠道层面收缩信号同样显现，今年6月，坐落于深圳万象天地的安德玛华南地区最大的独栋旗舰店正式闭店停运。马岗分析，品牌战略转型需要较长时间才能看到成效，加之安德玛业务布局广泛，改革阻力相对更大。品牌年内的一系列布局，本质上是挖掘细分运动品类、垂直运动场景当中的增量空间，推进市场本土化精细化运营。而安德玛现阶段的首要任务，便是修复消费者的品牌认知，主要策略落在产品、营销和渠道，“作为产品出道的品牌，产品侧的改变应放在优先位置。”（记者 王怡菲 文/图）。
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