web analytics

Nike Set To Increase Prices

Nike is set to increase the cost of its products from sneakers to apparel “across the board”. The increase is set to begin with the company's next financial year, Nike's current financial year ends May 31st.

Check out the rest of the story after the jump and let us know how you feel about it...



The sportswear company, which owns the Nike, Umbro and Converse brands, warned that the rising cost of cotton, oil and transportation will squeeze profit margins.

Nike’s chief financial officer Don Blair said in a conference call to analysts yesterday (18 March) that until now price increases had been in specific markets on particular product lines but from its next financial year prices would increase “across the board”. The company’s current financial year ends 31 May.

Blair was speaking as the company reported that net profit for its third quarter increased 5% to $523m. Revenue rose 7% to $5.1bn.

The gains were driven by a 21% revenue bump in China and a 19% gain in emerging markets, which partly offset a 2% fall in earnings from Western Europe. -Marketing Week

Images Via MQ
Shouts to Deftronic for the heads up

Nike Air Jordan 3Lab5
Nike Air Jordan 3Lab5 $329.99
End Date: Sunday Aug-24-2014 6:40:45 PDT
Buy It Now for only: $329.99
Buy It Now | Add to watch list
Nike Air Jordan Future Wolf Grey UK 11 Retro Rare
Nike Air Jordan Future Wolf Grey UK 11 Retro Rare $186.70
End Date: Monday Aug-4-2014 6:40:11 PDT
Buy It Now for only: $186.70
Buy It Now | Add to watch list
NIKE AIR FOAMPOSITE PRO ONE YEEZY CRIMSON
NIKE AIR FOAMPOSITE PRO ONE YEEZY CRIMSON $250.00
End Date: Thursday Jul-31-2014 18:39:59 PDT
Buy It Now for only: $325.00
Buy It Now | Bid now | Add to watch list
Nike Lebron Hazardous Zoom Breathe 13 sz 12
Nike Lebron Hazardous Zoom Breathe 13 sz 12 $375.00
End Date: Friday Aug-1-2014 6:39:32 PDT
Buy It Now for only: $375.00
Buy It Now | Add to watch list
Nike LeBron XI 11 What the lebron Mens Black Lava Basketball Shoes 650884 400 DS
Nike LeBron XI 11 What the lebron Mens Black Lava Basketball Shoes 650884 400 DS $949.00
End Date: Wednesday Jul-30-2014 6:38:10 PDT
Buy It Now for only: $949.00
Buy It Now | Add to watch list

0 comments