Nike revealed that from June 1, most of its footwear priced above $100 will see increases up to $10, while clothing prices will rise modestly by $2 to $10. However, products like the iconic Air Force 1 trainers and children's items are excluded from this increase. This decision comes in light of continuing uncertainty around U.S. tariffs, particularly those imposed by former President Trump’s administration.
In March, Adidas projected increased costs due to tariffs, leading to potential consumer price hikes for its sneakers. Retailer JD Sports also noted concerns that rising prices in the U.S. could dampen customer demand. Many global companies are currently grappling with the unpredictability of ongoing trade policies.
The U.S. has deferred implementing higher reciprocal tariffs until July, but a baseline tariff of 10% remains applicable to several countries, significantly affecting manufacturers in Vietnam, which produces approximately half of Nike’s footwear and a quarter of its clothing. Notably, Vietnam has faced high import taxes reaching up to 46%.
Additionally, Nike has announced it will rekindle sales on Amazon in the U.S. for the first time since 2019, aiming to reverse a trend of declining online sales. The latest financial data reflects a downturn in digital sales across all regions, with Europe and Greater China experiencing notable drops of 25% and 20%, respectively.
In March, Adidas projected increased costs due to tariffs, leading to potential consumer price hikes for its sneakers. Retailer JD Sports also noted concerns that rising prices in the U.S. could dampen customer demand. Many global companies are currently grappling with the unpredictability of ongoing trade policies.
The U.S. has deferred implementing higher reciprocal tariffs until July, but a baseline tariff of 10% remains applicable to several countries, significantly affecting manufacturers in Vietnam, which produces approximately half of Nike’s footwear and a quarter of its clothing. Notably, Vietnam has faced high import taxes reaching up to 46%.
Additionally, Nike has announced it will rekindle sales on Amazon in the U.S. for the first time since 2019, aiming to reverse a trend of declining online sales. The latest financial data reflects a downturn in digital sales across all regions, with Europe and Greater China experiencing notable drops of 25% and 20%, respectively.
