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The key footwear and clothing manufacturing hub of Vietnam faces the threat of a steep 46% tariff returning in July.
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.
However, the company says they are not related to tariffs. Transcript: Add Nike to the list of retailers that will be raising prices.
Bill Ackman's hedge fund, Pershing Square Holdings, is well-known for concentrating bets in fewer than a dozen names at any given time.
Nike (NKE) is reportedly resuming the sale of its products on Amazon (AMZN), with the sportswear giant also set to hike prices amid President Donald Trump's tariffs.
Amazon said it was ‘working directly with Nike to source their products' after a five-year absence.
Shares in JD Sports Fashion PLC (LSE:JD.) rose 3.5% in early trading, buoyed by news that Nike will raise prices on a range of its footwear and apparel from 1 June.
Investors love to see what billionaire hedge fund managers buy and sell. Hedge funds provide quarterly updates about their performance, and they also file a quarterly 13F that details their trades.
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.