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

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  1. Aint that aboutta bitch….which basically means the price goes up and the quality goes down…or should I say get worse,cuz the quality been went out the window bout 2-3 years ago. Still dont know y I,plus millions across the world still feedin these dudes and all they keep givin us is trash…im so weak FML…

  2. Maybe if they stop selling crappy sneakers and restocked sneakers that people wanted (ex: cool greys) they wouldn’t have to raise prices. They keep putting terrible sneakers on the shelves and expect people to buy it (FOH with that).

  3. I may have to stop rocking Nike altogether then, I’ve witnesses in a 10yr span Nike Dunks go from Loy $70 to as high as $200 plus. BUT as long as they sellout and the resale market is still HUGE then Why lower prices ever again. Thanks to,, Kixclusive and a slew of others, NIKE will increase forever!

  4. wow F u nike… the nike CEO’s and heads are prob like “oh no, we wont be able to afford our new bentlys and farraris next fiscal, whatever shall we do?! Dear god man get a hold of yourself! you know these kids will do anything to get the newest dumbest looking kicks” Instead of raising prices….maybe u should drop stupid sponsors (IE Lebron boooooo) or cut back on commercial spots idk im not an accountant, but its always lets raise prices on the low to middle class and take the $ from them

  5. LOL the greedy get more greedy! Saw thiscoming wondered when it would happen! All the rich greedy Corps are just steadily fuccing us! A shoe that at most most cost $25 is goin to cost 150 or more fucc that i might stop rocking nikes too! Greedy Greedy Greedy!

  6. The net profit as said in the article for the 3rd quarter has risen 5% to $523m. Revenue rose 7% to $5.1bn (thats Billions in Revenue) These Nike execs are so greedy that even though profit and revenue is rising which are what keep the company alive and cover cost, their still gonna charge loyal costumers more for the product. If in one of the last quarters of the year profit and revenue increased that means the chance of it continuing to rise is a good one Thats retarted -___- (I just hope Foams dont increase in price Lol)
    p.s. and quality of sneakers is not like before either with the giant mass production Nike ask for.