SGB Apparel

SGB Update

Nike’s Debt Downgraded on Lower Profitability, Tariff Risks

S&P Global Ratings lowered its debt ratings on Nike, Inc., due to recent sales and margin declines that it expects will continue in its current fiscal year as well as ongoing tariff risks. The rating agency said, “We believe it will take multiple years to regain the market share lost to both apparel and footwear competitors and return Nike to historical levels of profitability.”

Rygr Taps Saks, Backbone and TNF Veteran as Company President

Hlidek replaces Brian Holcombe, who co-founded Rygr in 2016 and assumed the role of president in 2023. The company said Holcombe’s nine-year tenure helped shape the agency’s “strong foundation, culture and client portfolio.”

Ireland’s Gym+Coffee Appoint Former Nike Exec as CEO

Niall Horgan, Diarmuid McSweeney and Karl Swaine founded the Dublin-based brand in 2017 and operate seven stores in Ireland. Jason Crawford, formerly of Nike and Adidas, will take on the role as CEO as the founders step away from the Ireland-based athleisure brand’s day-to-day operations.

Survey: Potential Tariffs and Inflation Jump-Started BTS Shopping

“Consumers are being mindful of the potential impacts of tariffs and inflation on back-to-school items, and have turned to early shopping, discount stores and summer sales for savings on school essentials.” — Katherine Cullen, VP of Industry and Consumer Insights, National Retail Federation

SGB Executive

EXEC: Li Ning Posts LSD Growth in China Retail Sales in Second Quarter

The Offline channel, which includes retail and wholesale, registered a low-single-digit increase. Retail (direct operation) declined by mid-single digits, while Wholesale (franchised distributors) increased by low-single digits. The E-commerce channel registered mid-single-digit growth.