SGB Update Apparel

Moody’s Lowers Under Armour’s Debt Ratings

Moody’s Ratings downgraded Under Armour, Inc.’s debt ratings on its expectation that weakening consumer discretionary spending and increased tariff costs are likely to lead to lower earnings over the next 12-18 months.

Adidas Warns of U.S. Price Hikes Due to Tariffs

Adidas AG said that despite reporting better-than-expected first-quarter results, it opted not to raise its financial targets for 2025 due to rising concerns over President Donald Trump-imposed trade tariffs, including the threat that prices will have to rise for U.S. products. The company said it did not know how much it would boost prices.

NSGA’s and Sporting Goods Industry Veteran Tom Doyle Passes Away  

Tom Doyle died on April 22 at the age of 86. He worked at the NSGA for 39 years and was the association’s vice president of Information and Research when he retired in the fall of 2010. He was also president of the National Ski & Snowboard Retailers Association (NSSRA) from the time it was founded in 1987 until 2010. 
 

WFSGI Adds New Faces to Board to Replace Outgoing Members

The new WFSGI Board has added Anne Larilahti, VP of Sustainability, Amer Sports; Mitchell Tsai, CEO, Apache Footwear; Todd Smith, President and CEO, SFIA; and Stefan Rummel, CEO, Messe Muenchen, the producer of the ISPO and Outdoor Munich Expos.

Josh Allen Invests in The Cashmere Fund

The Buffalo Bills QB and 2025 NFL MVP is the newest investor in The Cashmere Fund, and partnering with the Fund’s subadviser, Cashmere LLC, a next-generation venture fund making startup investing more accessible.

Jay Apparel Group Expands into Central America

JAG said it would focus on men’s woven sport shirts and other core products in Honduras and other key regional hubs, leveraging the benefits of U.S. trade programs, including the Central America-Dominican Republic Free Trade Agreement (CAFTA-DR).