Nike costs will increase by $ 1 billion (728 million pounds sterling) if US President Donald Trump’s rates remain at the current level, investors told the company.
It follows a warning from the sports brand last month that it would increase prices due to the taxes imposed on imports.
The work to reduce costs is underway, including the reduction of China supplies in the United States.
It is a question of reducing the amount of shoes made in China and importing into the United States by 16% currently to a “high figure” figure, the Chinese supply being “reassured to other countries of the world”.
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On April 2, Trump announced Prices specific to the country who struck China the hardest and increased after several reprisal cycles.
After an agreement Between Washington and Beijing, the levy was reduced from a rate of 145% to 30% on Chinese products.
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Trump’s prices: what you need to know
Price increases for consumers will start to enter into force in the fall.
The last warning on the prices comes when Nike has reported the worst quarterly results in more than three years.
Income was $ 11.1 billion (8.1 billion pounds sterling) – the lowest since the third quarter of 2022.
He faced the effects after the effects of an unsuccessful decision to sell directly to consumers with Wall Street analysts who also criticize his dependence on lifestyle and dependence on fashion trends.
The CEO of Nike, Elliott Hill, returned from the retirement last year to take the first job of the company again.
The worst of commercial wars has already occurred, said Hill, with “the opposite winds to moderate from here”.