While the industry growth rate expanded 50 b.p. to 3.4%, participation hit record levels and consumer demand held steady, results further down the P&L slipped as macro headwinds mount, according to the SFIA’s 2026 State of the Industry report. The industry trailed GDP growth of 5.0%, but a majority of companies met or exceeded their sales guidance, ostensibly marking a return to historical growth levels. However, year-end profitability for ‘25 skewed to 42.1% of companies reporting an increase vs. 31.6% declining, taking a major swing from 2024’s 65.0% up (a 10-year ... Log in to view full article.