Reported about 10 hours ago
Nike anticipates a $1 billion loss due to tariffs imposed by the Trump administration, according to CFO Matt Friend. The company plans to reduce its reliance on Chinese imports, which currently make up about 16% of its footwear brought into the U.S., down to a high single-digit percentage by the end of fiscal 2026. Despite the challenges, Nike reported better-than-expected fiscal fourth-quarter results and intends to mitigate these tariff impacts while optimizing its production and sourcing strategies.
Source: YAHOO