Nike Markups Incoming—Here’s What Items Will See A Price Hike
The post Nike Markups Incoming—Here’s What Items Will See A Price Hike appeared on BitcoinEthereumNews.com. Topline Footwear and apparel titan Nike will soon increase prices on some of its products, according to multiple outlets, issuing the price hikes as President Donald Trump’s sweeping tariff policy impacts the larger retail industry—though the company did not directly blame the levies for the price increases. The markups will go into effect June 1. (Photo by John Smith/VIEWpress via Getty Images) Corbis via Getty Images Key Facts Nike will increase apparel and equipment prices between $2 and $10 depending on the item, according to CNBC, which reported the markups could be seen as soon as this week despite officially going into effect June 1. Prices of footwear between $100 and $150 will jump as much as $5, while footwear exceeding $150 will increase up to $10. Excluded from the price hikes are all kids products and products under $100, as well as the Air Force 1 shoe and Jordan apparel and accessories. While consumers will experience price hikes next month, Nike retail partners will not see the new prices until July, Complex reported, adding the increase will come at the start of Nike’s next fiscal year. Nike did not explicitly attribute the markups to tariffs, telling Forbes and other outlets it regularly evaluates its business and makes “pricing adjustments as part of our seasonal planning. Get Forbes Breaking News Text Alerts: We’re launching text message alerts so you’ll always know the biggest stories shaping the day’s headlines. Text “Alerts” to (201) 335-0739 or sign up here. Big Number About 50%. That is the share of Nike’s footwear manufactured from China and Vietnam, according to CNBC. Both countries are facing tariffs imposed by the Trump administration, with China being subject to a 30% rate and Vietnam to a 10% rate. Key Background Nike is one of dozens of footwear companies…
The post Nike Markups Incoming—Here’s What Items Will See A Price Hike appeared on BitcoinEthereumNews.com.
Topline Footwear and apparel titan Nike will soon increase prices on some of its products, according to multiple outlets, issuing the price hikes as President Donald Trump’s sweeping tariff policy impacts the larger retail industry—though the company did not directly blame the levies for the price increases. The markups will go into effect June 1. (Photo by John Smith/VIEWpress via Getty Images) Corbis via Getty Images Key Facts Nike will increase apparel and equipment prices between $2 and $10 depending on the item, according to CNBC, which reported the markups could be seen as soon as this week despite officially going into effect June 1. Prices of footwear between $100 and $150 will jump as much as $5, while footwear exceeding $150 will increase up to $10. Excluded from the price hikes are all kids products and products under $100, as well as the Air Force 1 shoe and Jordan apparel and accessories. While consumers will experience price hikes next month, Nike retail partners will not see the new prices until July, Complex reported, adding the increase will come at the start of Nike’s next fiscal year. Nike did not explicitly attribute the markups to tariffs, telling Forbes and other outlets it regularly evaluates its business and makes “pricing adjustments as part of our seasonal planning. Get Forbes Breaking News Text Alerts: We’re launching text message alerts so you’ll always know the biggest stories shaping the day’s headlines. Text “Alerts” to (201) 335-0739 or sign up here. Big Number About 50%. That is the share of Nike’s footwear manufactured from China and Vietnam, according to CNBC. Both countries are facing tariffs imposed by the Trump administration, with China being subject to a 30% rate and Vietnam to a 10% rate. Key Background Nike is one of dozens of footwear companies…
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