However, Nike says the price hikes aren’t related to tariffs.
Transcript:
Add Nike to the list of retailers that will be raising prices. The retailer said it will mark up some of its footwear, apparel, and equipment in the coming weeks.
A Nike representative told CNBC that apparel and equipment for adults will see between $2 and $10 price increases, and footwear above $100 will see a hike between $5 and $10.
Nike says items for children and anything under $100 will not see an increase. Neither will Jordan brand apparel and accessories…. but Jordan sneakers will.
As the retail industry as a whole braces for tariffs, Nike says it regularly changes its pricing and did not say the new changes were tariffs-related.
About half of Nike’s footwear is made in China and Vietnam, which will incur tariffs of 30% and 10%, respectively.
Other big U.S.-based companies, like Target and Ford, have previously announced price increases which they directly tied to tariffs.
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