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Nike to hike prices as it faces tariffs uncertainty Nike to hike prices as it faces tariffs uncertainty
(32 minutes later)
Nike says it will raise the prices of some products from 1 June, with the increases hitting everything from shoes to clothing.Nike says it will raise the prices of some products from 1 June, with the increases hitting everything from shoes to clothing.
The sportswear giant says it is making the changes as part of "seasonal planning" and did not mention US President Donald Trump's tariffs policies that have upended global trade.The sportswear giant says it is making the changes as part of "seasonal planning" and did not mention US President Donald Trump's tariffs policies that have upended global trade.
The firm also says its will sell products directly to Amazon in the US for the first time since 2019.The firm also says its will sell products directly to Amazon in the US for the first time since 2019.
Last month, rival firm Adidas warned that levies imposed by Trump will lead to higher prices in the US for popular trainers including the Gazelle and Samba.Last month, rival firm Adidas warned that levies imposed by Trump will lead to higher prices in the US for popular trainers including the Gazelle and Samba.
From next Sunday, Nike shoes that cost more than $100 (£74.50) will see prices rise bay as much as $10. From next Sunday, most Nike shoes that cost more than $100 (£74.50) will see prices rise bay as much as $10.
Prices of clothing and equipment will also be raised by between $2 to $10.Prices of clothing and equipment will also be raised by between $2 to $10.
The popular Air Force 1 trainers as well as shoes that cost less than $100 will be exempted from the price hikes. Children's products and Jordan branded apparel and accessories will also be excluded.The popular Air Force 1 trainers as well as shoes that cost less than $100 will be exempted from the price hikes. Children's products and Jordan branded apparel and accessories will also be excluded.
Nike's move was driven by a range of internal and external factors, the BBC understands.Nike's move was driven by a range of internal and external factors, the BBC understands.
"We regularly evaluate our business and make pricing adjustments as part of our seasonal planning," a spokesperson said."We regularly evaluate our business and make pricing adjustments as part of our seasonal planning," a spokesperson said.
Companies around the world are contending with the uncertainty of Trump administration's trade policies.Companies around the world are contending with the uncertainty of Trump administration's trade policies.
A slew of steep so-called "reciprocal tariffs" which were announced on 2 April were put on hold as countries from around the world negotiate with the White House. The 90-day pause is due to expire in early July.A slew of steep so-called "reciprocal tariffs" which were announced on 2 April were put on hold as countries from around the world negotiate with the White House. The 90-day pause is due to expire in early July.
On Wednesday, UK sportswear retailer JD Sports said higher prices in its key US market due to tariffs could hit customer demand.On Wednesday, UK sportswear retailer JD Sports said higher prices in its key US market due to tariffs could hit customer demand.
Almost all Nike trainers are made in Asia – a region targeted by Trump's tariffs salvo against foreign countries he accuses of "ripping off" Americans.Almost all Nike trainers are made in Asia – a region targeted by Trump's tariffs salvo against foreign countries he accuses of "ripping off" Americans.
Goods from Vietnam, Indonesia and China faced some of the heaviest US import taxes - between 32% to 54%.Goods from Vietnam, Indonesia and China faced some of the heaviest US import taxes - between 32% to 54%.
On Thursday, Nike also said it will once again sell its products directly Amazon in the US.On Thursday, Nike also said it will once again sell its products directly Amazon in the US.
It had previously listed its goods on the platform, but stopped six years ago to focus on its official website and physical stores.It had previously listed its goods on the platform, but stopped six years ago to focus on its official website and physical stores.
Nike relies heavily on the US for sales. The the world's biggest economy accounts for almost everything it sells in its largest market of North America.Nike relies heavily on the US for sales. The the world's biggest economy accounts for almost everything it sells in its largest market of North America.
However, a slump in sales has curbed the company's ability to command full price for its products.However, a slump in sales has curbed the company's ability to command full price for its products.