Tariff impacts and fears, combined with weak operating performance in many cases, sent public sporting goods companies’ average valuations down 14.3% on a weighted basis in local currencies last year. The decline represents a significant falloff after flattish results in 2024 (-1.7%) and 2023 (+2.4%), and was even worse in comparison to double-digit growth in most global stock markets. In dollars, the aggregate market capitalization of the companies we track dropped 12.5% to $470,769 million from $538,173 million. As always, industry behemoths drive the overall delta, and big share price declines ... Log in to view full article.