Following the Holiday quarter’s low-single-digit sales and profit gains, business slowed to start 2025, resulting in sales rising less than 1% to $53,776.8 million from $53,662.0 million at the 48 public companies we track, with aggregate net income down 9% to $2,403.7 million from $2,635.3 million. All sectors except Diversified tallied flattish top lines, while big swings in one-time charges resulted in Apparel returning to profitably and Equipment’s huge loss narrowing, but Footwear profits slipped and Retail plunged. Return on Sales was 4.5% compared to last year’s 4.9%.

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