SGB Update Apparel
Gildan Activewear Takes Q1 Hit from UA Licensing Business Exit; Activewear Grows
Hosiery and Underwear sales were $64 million, down 38 percent year-over-year, mainly owing to the phase-out of the Under Armour business, unfavorable mix within this category, and continued broader market weakness during the quarter.
U.S. Consumer Confidence Sinks to Near Five-Year Low
The Conference Board’s Consumer Confidence Index fell to 86 on the month, down 7.9 points from its prior reading and below the Dow Jones estimate of 87.7. It was the lowest reading since May 2020.
Adidas Hires Max Staiger from Puma as New GM of Basketball
Adidas confirmed that Max Staiger, formerly at Puma for 12 years, was appointed global GM, basketball, effective April 7.
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.
Mizuno USA Strengthens Running Division With Key Hires
The company promoted Will Cutler as associate marketing manager while hiring Nico Betancourt as territory manager and Hope Nixon as running brand specialist.
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.
Celerant Marks International Expansion with Acquisition of UK’s Saledock
Saledock has provided in-store and online retail solutions in the UK for over five years, serving a range of hard and soft goods retailers, specializing in bike, equestrian and sporting goods businesses with cloud-based point of sale, inventory, and eCommerce tools.
TBA Worldwide Acquires Amazon Specialty Agency SaleSurf Growth
SaleSurf Growth will operate as a standalone agency within the TBA Worldwide network, with its existing team and leadership remaining.
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.
Cotopaxi Signs New Canadian Market Distributor
Montreal-based In-Sport Fashions Inc. is said to bring 35 years of experience representing premium outdoor and lifestyle brands across Canada.
Vuori Continues UK Expansion; Opens Third Store on King’s Road
Andy Lawrence, SVP of International at Vuori, said, “Opening this store represents a key milestone in Vuori’s expansion in the UK and across Europe, allowing us to deepen our connection with customers and the market.”
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.
Hudson’s Bay to Close Balance of Hudson’s Bay and Saks Fifth Avenue Locations
The Hudson’s Bay and Saks Fifth Avenue stores in Canada are expected to operate until no later than June 15, 2025; however, some may close earlier. The company will close 9 Saks Off 5th stores on Sunday, April 27.
Ambercycle and Huilong in New Strategic Cooperation Partnership
The collaboration is expected to focus on scaling textile-to-textile (T2T) closed-loop recycling systems, establishing innovative solutions across the industry’s value chain.
Grassroots Expects 5.9 Percent Growth in Spring Connect Buyer Attendance
Grassroots indicated that the 148 retail businesses and 147 exhibitors are essentially flat versus last year’s Spring Connect Show, but individual buyers increased 5.9 percent year-over-year to 391 buyers.
