SGB Footwear

SGB Update

Varsity Brands’ Debt Ratings Upgraded by S&P

S&P Global Ratings stated the debt ratings upgrade for Varsity Brands, the parent of BSN Sports and Varsity Spirit, reflects “solid demand in both segments, management’s effective execution in expanding the businesses, and the wind-down of significant legal and restructuring cash expenses.”

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.

EXEC: Top Asia FW Factories See Improving Shipment Trends in June 2025

Feng Tay Enterprises, one of the longest-tenured producers of Nike footwear, saw manufacturing revenues decline 3.1 percent year-over-year (y/y) in June after cratering 23.4 percent in May. Yue Yuen Manufacturing increased 9.4 percent y/y in June after increasing just 0.5 percent y/y in May.