New US tariffs to cost Nike $1 bn this year

Nike reported a 10 per cent annual revenue drop to $46.3 billion, with Q4 marking its worst performance in 20 years.
Tariffs now represent a new and meaningful cost headwind, with an estimated $1 billion impact.
Vietnam has overtaken China as Nike’s top supplier.
To offset rising costs, Nike is optimising sourcing and implementing a “surgical increase” in US prices, starting Fall 2025.