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Investing.com -- Nike (NYSE:NKE) is set to increase prices on a variety of products as early as this week, according to CNBC. The hike is expected to affect a broad selection of adult merchandise, excluding Air Force 1 shoes and children’s items. The move comes as the retail industry prepares for tariffs that could impact profits.
The company, a leading name in footwear, stated it frequently reviews pricing, but did not link these changes directly to tariffs. The price adjustments will apply to a wide variety of footwear, apparel, and equipment.
An individual with knowledge of the situation revealed to CNBC that the price for adult Nike apparel and equipment will rise between $2 and $10. Footwear priced between $100 and $150 will see a $5 increase, while sneakers priced above $150 will have a $10 hike.
These price increases are expected to be in effect by June 1 and could be observed in stores as early as this week. The price adjustments will cover a large portion of Nike’s product line, although many items will retain their current price.
The company has decided not to increase the prices of children’s products or items priced under $100. This decision aims to consider the financial challenges families are facing, especially as parents shop for their children during the back-to-school season.
Nike’s Air Force 1 shoe will continue to be priced at $115, according to the same source. The individual described the shoe as a common choice for workplace wear due to its comfort and accessibility.
While Jordan brand apparel and accessories will not see price increases, Jordan sneakers will be subject to the new pricing adjustments.
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