Reported 2 days ago
Footwear companies including Nike, Deckers, and On Running saw their stocks decline following the announcement of new tariff rates by President Trump, which range from 10% to 40% for various global trading partners. This comes as key sourcing regions like Vietnam and Indonesia now face significant tariffs, affecting the companies' cost structures. While Deckers expects a nearly $185 million impact from these tariffs, Nike anticipates tariff costs nearing $1 billion as it diversifies its supply chain away from China. Overall, the uncertainty surrounding tariffs is causing volatility in the footwear sector.
Source: YAHOO