Nike is facing a downturn due to Donald Trump's tariff war, anticipating a $1 billion cost increase when manufacturing is reduced in China. This has contributed to a 33% drop in market value over the past year. Plans for price increases in the U.S. and sourcing from alternative countries are underway to mitigate the financial impact. Despite the challenges, Nike's leadership emphasizes their resilient relationships with factory partners and strategies to minimize consumer impact, even as they report significant drops in revenue and earnings.
Nike anticipates a $1 billion cost increase due to tariffs, impacting manufacturing and pricing strategies as it seeks to mitigate the financial ramifications.
Nike's CFO stated the company plans 'surgical price increases' to soften the financial impact from tariff-related costs while maintaining strong partnerships with factories.
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