Brands Announcing Price Hikes Risk Trump’s Ire
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It’s been a critical stretch for measuring how some of the country’s largest retailers are managing President Donald Trump’s elevated import tariffs, as multiple big name stores share their quarterly earnings reports.
As former Valentino designer Pierpaolo Piccioli is named Balenciaga’s new creative director, Lemaire has opened its first Chinese boutique, and Gentle Monster has inked a new collaboration with Google.
Nike reportedly is hiking prices by as much as 7%, according to various media reports, though the apparel maker is not tying the cost increases directly to tariffs.
By June, shoppers at the budget-friendly retailer may start to see higher prices on the shelves for these goods.
Adidas and Puma are likely to hike prices for running shoes and sportswear in the United States, following Nike's lead, analysts and investors said on Thursday, as U.S. tariffs on imports drive costs up for retailers.
Major chains are fighting two battles at once: a financial battle to keep costs low in the face of new tariffs, and a political one to avoid the president's wrath.
Retailers have been treading carefully around the question of price increases and import taxes since Trump slammed Walmart last weekend.
CNET is keeping track of prices for several key products as prospects for the months ahead remain uncertain, including one popular TV speaker you might want to buy right now.