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Nike says tariffs could add around $1 billion to its costs this trading year as it looks to reduce its reliance on Chinese production in a bid to offset the impact of President Trump's trade policy.
Michael Binetti, Evercore ISI research analyst, joins 'Squawk Box' to discuss Nike's quaterly earnings results.
Nike beat low expectations in FQ4. Management flagged new tariffs as a $1B cost headwind but outlined mitigation strategies, boosting investor confidence and premarket shares by 10%.
Shares of Nike surged as much as 10% in premarket trading on Friday after the company offered a more optimistic first-quarter revenue forecast and outlined strategic measures to reduce its dependence on Chinese manufacturing.
Banking giant HSBC has issued a bullish revision on Nike (NYSE: NKE) stock following the sportswear manufacturer's latest earnings report.
Shares in JD Sports Fashion PLC (LSE:JD.) climbed as much as 7.5% in early trading on Friday, buoyed by signs that Nike Inc (NYSE:NKE, ETR:NKE), the UK retailer's key partner, may have turned a corner in its challenging turnaround effort.
Nike shares surged 10% in premarket trading on Friday as an encouraging forecast and plans to reduce China production for U.S.-bound goods bolstered confidence in an ongoing turnaround effort at the sportswear giant.
Nike (NKE) shares were up roughly +3% on Thursday ahead of results for its fiscal fourth quarter, which it released after the closing bell.
NIKE, Inc. (NYSE:NKE ) Q4 2025 Earnings Conference Call June 26, 2025 5:00 PM ET Company Participants Elliott J. Hill - CEO, President & Director Matthew Friend - Executive VP & CFO Paul Trussell - VP of Investor Relations & Strategic Finance and Treasurer Conference Call Participants Adrienne Eugenia Yih-Tennant - Barclays Bank PLC, Research Division Alexandra Ann Straton - Morgan Stanley, Research Division Brian William Nagel - Oppenheimer & Co. Inc., Research Division Brooke Siler Roach - Goldman Sachs Group, Inc., Research Division Jay Daniel Sole - UBS Investment Bank, Research Division Jonathan Robert Komp - Robert W.
Nike plans to raise prices to offset $1 billion in additional tariff costs in fiscal year 2026. The company aims to reduce reliance on China, which makes up 16% of its US footwear imports.