Nike, price hikes
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Nike reportedly is hiking prices by as much as 7%, according to various media reports, though the apparel maker is not tying the cost increases directly to tariffs.
Ralph Lauren forecast tepid annual sales on Thursday and said it was weighing price increases, as the Trump administration's steep tariffs start to pressure consumer spending and margins. The company still beat fourth-quarter estimates for revenue and profit,
Companies that say they're raising prices due to tariffs are in the president's social-media crosshairs and face accusations of price gouging.
US makers of toilet paper and toothpaste, squeezed between weak consumer demand and higher costs from tariffs, are searching for ways to increase revenue that don’t involve raising or cutting prices.
Retailers have been treading carefully around the question of price increases and import taxes since Trump slammed Walmart last weekend.
The latter sentence appears to be part of an effort to avoid upsetting President Donald Trump. Walmart recently revealed tariffs will force them to increase prices, which prompted a response from Trump saying the retailer “should STOP trying to blame tariffs as the reason for raising prices throughout the chain.”
Footwear priced between $100 and $150 will see increases of up to $5, while items priced at $150 or higher will see increases of up to $10. Nike will also increase apparel and equipment prices by $2 to $10.
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