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Yahoo
22-05-2025
- Business
- Yahoo
Sneaker Shock: Yes, Nike Is Raising Prices Too on Select Products Amid Trump's Tariffs
Nike Inc. is in price-adjustment mode, but it's also being strategic on which items will see an uptick in cost. The sports apparel and footwear brand is raising retail prices at its U.S. stores — on average between $2 and $10 — but it won't be for all goods. Nike apparel and equipment will see price increases at between $2 and $10, while footwear prices currently between $100 and $150 will see increases up to $5 and those starting at $150 and higher will see increases up to $10, according to a source familiar with the slated increases. More from WWD How Leaders Tackle Tariffs, Supply Chain Costs and Geopolitical Uncertainty Inside Kecia Steelman's Far-reaching Vision for Ulta Beauty Assessing Modern Luxury With Bluemercury's Maly Bernstein This person told Footwear News that a large portion of the merchandise assortment will remain at their current price range. There are no increases on any kids' products, whether footwear or apparel. In addition, there will be no price increases for any Jordan product, whether apparel or accessories. And any product under $100 will remain at current price points. In addition, Nike's Air Force 1 sneaker, which is priced at $115, will not see any increase. 'The AF1's are a popular shoe and is the work-horse' among service providers such as restaurant workers and UPS staff, this individual said. The person also emphasized that Nike is not raising prices on kids' products because it is cognizant of the needs of 'families and the upcoming back-to-school season.' 'We regularly evaluate our business and make price adjustments as part of seasonal planning,' Nike said in a statement. On the wholesale side, price increases reportedly will start in July when the fall 2025 season is set to begin. News of the price increases was first reported by Complex. Nike is following in the steps of most footwear brands and retailers, selectively increasing prices based on the product and design features. Brands normally review their cost structure before each selling season and adjust as needed. In recent years, much of the change has been due to inflationary spikes. This year, with the return of Donald Trump as U.S. president and under his administration's new trade policies, raising prices selectively could be the norm as they grapple with higher tariff rates. Reciprocal tariffs are a big problem for shoe brands, particularly the 46 percent duty levied on Vietnam and the 145 percent that was later placed on imports from China. While there is currently a 90-day pause on most global goods that ends on July 9 and a separate 90-day pause on goods from China ending Aug. 14, there's still much uncertainty over what will happen once the freeze on those periods end. Treasury Secretary Scott Bessent said this past Sunday that tariff rates will return to 'reciprocal levels' if countries don't negotiate new trade deals with the U.S. Nike competitor Adidas reported first-quarter results on April 29, and its CEO Bjørn Gulden said during the company conference call that the expectation is that 'people will start to raise prices should these duties or all the duties be confirmed, and that's what we follow.' Steve Madden CEO Edward Rosenfeld said during the company's fourth-quarter earnings conference call in February before reciprocal tariffs were announced that some price increases were likely for the fall back-to-school season. The company, which recently completed its $360 million acquisition of Kurt Geiger, was already shifting production outside of China. Companies were expecting tariff increases as Trump made that a big talking point during his campaign stops last year ahead of November's Election Day. Crocs Inc. CEO Andrew Rees said May 8 during the first-quarter conference call that pricing is a potential lever to mitigate against tariff impacts, noting that Vietnam remains a big concern. 'Depending on the level of incremental costs that may come from tariffs and other factors, we do expect the industry to go up in terms of price,' he told analysts. He also said that what the 'whole industry is worried about if a reciprocal tariff remains in place [is] Vietnam. That's a huge amount of production for us and everybody else. That would be incredibly hard to mitigate.' Crocs is being 'super strategic' on pricing and has implemented some 'targeted price increases,' he said. While China remains the country where much of the lower-end shoes are produced, Vietnam is the key manufacturing hub for sneakers and other athletic performance shoes. View Gallery Launch Gallery: 50 Years of Nike Through TV, Film and Celebrities Best of WWD Mikey Madison's Elegant Red Carpet Shoe Style [PHOTOS] Julia Fox's Sleekest and Boldest Shoe Looks Over the Years [Photos] Crocs Collaborations From Celebrities & Big Brands You Should Know Sign in to access your portfolio
Yahoo
13-05-2025
- Business
- Yahoo
FDRA, AAFA, NRF, RILA: U.S.-China Tariff Pause A Welcome Start, But More Needs To Be Done
While the U.S.-China tariff pause is a step in the right direction for fashion, footwear and retail, there's still more that needs to be done in terms of trade deals to ease the tax burdens. That's the consensus from fashion and retail trade groups, which said on Monday that they continue to push for better trade deals over the long haul that protect American firms and consumers. More from Footwear News Steve Madden, Foot Locker and More Shoe Stocks Soar on Trump's Latest 90-Day Tariff Deal With China U.S. And China Hit 90-Day Pause On Tariffs, Begin Trade Negotiations The truce followed a round of intense negotiations in Geneva, Switzerland, over the weekend, with the two countries issuing a joint statement Monday on their agreement to substantially lower tariff rates. Starting on Wednesday, U.S. tariffs on Chinese imports will be 30 percent, down from 145 percent, while China's duties on American imports will be 10 percent, from 125 percent. The parties plan to continue with talks over the 90 days that hopefully will lead toward a new trade agreement. American President Donald J. Trump has been decrying trade imbalances and on April 2, disclosed the implementation of reciprocal tariffs. That left footwear manufacturers who produce in Vietnam and China wondering how to deal with their new cost structure. While much of the footwear for mass merchandisers and those targeting the lower-income consumers are made in China, the athletic performance shoes and sneakers have mostly moved to Vietnam as their main manufacturing base. Trump later declared a 90-day pause to give countries time to negotiate new trade deals with the U.S. While the pause is seen as a plus by some on Wall Street, fashion and retail trade organizations say more can be done by the Trump administration. 'We're encouraged by President Trump and his administration's progress in the U.S.-China trade negotiations—this is a good step toward easing tensions, which is important for American businesses and consumers,' Footwear Distributors and Retailers of America (FDRA) president and CEO Matt Priest said. 'But we're not across the finish line yet. Some shoes still face duties approaching 100 percent, and that's unacceptable. We've outlined clear, reasonable exemptions in our letter to the Administration, and we urge them to take action to ease the burden on Americans further. Our industry needs relief—and so do the families we serve.' More than 80 companies signed a letter sent to Trump on April 29 by the FDRA urging him to exempt footwear from his administration's reciprocal tariff plan. The signers included Nike, Adidas, Puma, Steve Madden, Skechers, Caleres and more. 'The 90-day pause is welcome and may temporarily help unstick the effective trade embargo that has been in place with respect to U.S.-China trade since April 9,' American Apparel and Footwear Association (AAFA) president and CEO Steve Lamar said. 'Sadly, the residual 30 percent tariff, stacked on top of the existing Section 301 and 'most favored nation' tariffs, will still make for an expensive back to school and holiday season for most Americans.' Lamar said that if freight rates spike due to the tariff-induced shipping disruptions, which will take months to unwind, costs and prices could creep up even further. 'What's needed now is a long-term deal—not just with China but with all our trading partners—so we can predictably make long term trade, investment, and sourcing decisions,' he said. The AAFA CEO said news of the 90-day freeze follows weeks of advocacy by AAFA and others urging de-escalation and deals, as well as 'explaining how the current tariff policy does not support more U.S. manufacturing in our industry or the 3.5 million U.S. workers in industry currently employs.' National Retail Federation president and CEO Matthew Shay said his retail trade organization is 'encouraged' by these constructive negotiations. 'This temporary pause is a critical first step to provide some short-term relief for retailers and other businesses that are in the midst of ordering merchandise for the winter holiday season,' he said. 'And over the long term, this lays the foundation for substantial progress in achieving truly fair and balanced trade relationships with both China and our other trade partners around the world.' Shay noted there was still much for the two nations to discuss regarding ongoing issues, including working on the removal of 'remaining national security tariffs and provide long-term stability between the two largest global economies.' 'President Trump's announcement of an immediate de-escalation and 90-day pause to negotiate a long-term trade deal with China is welcome news to retailers grappling with tariff shocks and enormous disruption in supply chains ahead of seasonal and holiday ordering,' said Blake Harden, Retail Industry and Leaders Association vice president, international trade. 'We are hopeful the deal reached last week with the U.K. and today's announcement with China will build momentum for trade deals that protect American innovation and family pocketbooks.' Harden also emphasized that retailers and its customers value the stability of permanent agreements over temporary policies. 'We applaud the administration for remaining at the negotiating table with China and the rest of our trading partners, including Canada and Mexico, to craft long-term deals that give businesses the certainty they need to invest, hire, and grow the economy,' he said. According to Morningstar's chief U.S. economist Preston Caldwell, 'We had previously expected the average tariff rate to drop to 18 percent at end-2025. As of today's announcement, it's at about 16 percent, which is a faster tariff reduction than we had baked in. This takes a lot of the recessionary risk off the table.' The de-escalation was seen as a plus for some footwear and retail firms, including shares of Nike Inc. and Five Below Inc. Jefferies analyst Randal J. Konik recommended buying shares of Nike and Five Below, the deep value retailer that sells goods—including sandals and slippers—at prices between $5 and $10. 'These companies offer several mitigating strategies and now face lower costs in the interim,' he wrote in a research note. Konik added that the two are strong brands that can mitigate tariff impacts due to their scale. 'As trade discussions progress during the 90-day pause, management teams could witness significantly fewer costs, as most businesses have opted to plan with the assumption of a 145 percent tariff in place,' he said. According to Konik, 50 percent of Nike's footwear production and 28 percent of apparel is in Vietnam, and for China, the percentages are 18 percent and 16 percent, respectively. Nike also produces 27 percent of its footwear in Indonesia, and 15 percent of apparel in Cambodia. At Five Below, a significant majority of its merchandise is manufactured outside of the U.S., with China as the largest single source of imported goods. TD Cowen's John Kernan has a 'Buy' rating on shares of On Holding AG, with a current price target of $58.00. On has been trading in the $50 range. Kernan said the business 'has pricing power and nimbleness to offset a 10 percent to 20 percent tariff over time.' While Kernan is presuming a baseline 10 percent tariff on Vietnam and other Far East Asian suppliers, the final percentage remains up for debate. Trump noted on Truth Social that the Vietnamese government, which was initially allocated an additional 46 percent in reciprocal tariffs, was quick to make overtures on April 4 that indicated an openness to find a solution that aims for a zero tariff (both ways) alternative. And for retail's two upcoming key selling seasons, there is hope that the 90-day pause will allow them to get needed goods in time for back-to-school (BTS) and holiday. Deborah Weinswig, CEO of Coresight Research, said that brands that have 'continued manufacturing and that have shipped containers of products to tax-free zones or bond warehouses are in great shape will be capable of quickly pivoting to move product into the U.S. in time for BTS.' Not so for those that hit the pause button as they will need time and money both to get people back to work and to restart the factories. Moreover, they'll likely have to rely on air freight—and incur added costs—to get goods into the U.S. in time for BTS 'We've been recommending that brands and retailers raise prices to reflect the higher cost of goods versus pausing manufacturing and shipping, and this new tariff pause is a perfect example of why that approach is critical to have goods on hand for prime shopping periods,' Weinswig said. Investors on Monday welcomed the trade truce, even if temporary, as a sign that further talks could ease the tension between the two countries. The Dow Jones Industrial Average skyrocketed 1,160.72 points, or 2.8 percent, to close at 42,410.10, while the S&P 500 rose 184.28 points, or 3.3 percent, to 5,844.19. The top gainers among the footwear firms saw shares of Caleres Inc. spike up 15.5 percent to $17.40. It was followed by Steven Madden Ltd., up 14.9 percent to $26.41, and Genesco Inc., which rose 12.6 percent to $23.79. Amer Sports Inc. rose 11.4 percent to $30.04, while Wolvering Worldwide Inc. gained 9.0 percent to $16.67. Crocs Inc. was up 8.3 percent to $118.85 and Nike Inc. rose 7.3 percent to $62.58. Among the retailers, Academy Sports and Outdoors Inc. skyrocketed 18.3 percent to close at $46.39, followed by DSW parent Designer Brands Inc., up 14.9 percent to $3.79, and Boot Barn Holdings Inc., which gained 13.3 percent to close at $133.30. Shares of Dick's Sporting Goods rose 11.3 percent to close at $212.42, Foot Locker Inc. was up 10.6 percent to $13.28, and Shoe Carnival Inc. rose 8.9 percent to $19.58. Best of Footwear News A Complete Calendar of All the Footwear Trade Shows in 2025 A Timeline of Nike's 5 CEOs That Have Held the Role Since 1972 These Theories About How Black Friday Got Started Will Surprise You
Yahoo
12-05-2025
- Entertainment
- Yahoo
Nicole Scherzinger Complements Cobalt Blue Dress With Crisp White Pumps for SiriusXM Visit in NYC
Nicole Scherzinger complemented a bodycon cobalt blue dress with a pair of classic white pumps for press engagements in New York City on Monday, including a stop at SiriusXM and 'CBS Mornings.' The multi-hyphenate artist, who earned a Tony nomination for lead actress in a musical for her role in 'Sunset Blvd.' on Broadway, dressed up for her busy morning in a sapphire blue knee-length dress which hugged her figure. The design featured a deep rounded V-neck and linear detailing including criss-crossing lines at the bodice. The dress was matched to a statement necklace crafted with rounded blue stones. Additional accessories included silver bangles and several rings. More from Footwear News Meghan Trainor Dons Hot Pink Amina Muaddi Pumps and Crushed Velvet Stiletto Boots for iHeartRadio's Wango Tango Nicole Scherzinger is Red Carpet Ready in Tan Suede Pumps at the 78th Annual Tony Awards Meet The Nominees Press Event Scherzinger's look was rounded out by a pair of white pumps, what appeared to be a leather pair. Showcasing a classic pump silhouette, the shoes featured a pointed toe, low-cut vamp and stiletto heel boosting the actress in height. A versatile wardrobe item, another celebrity to have showcased white pumps recently is Coco Jones, who wore a pair to the Met Gala. Pumps are a go-to formal footwear look for Scherzinger. She just recently donned a suede beige pair on Thursday to attend the 78th Annual Tony Awards Meet the Nominees press event, showcasing the shoes with a trench coat-inspired dress. And she went with black patent leather pumps to accompany a floral-embellished dress at the Michael Kors fall 2025 show in February. Celebrities Who Love Gianvito Rossi [PHOTOS] View Gallery33 Images Launch Gallery: Celebrities Who Love Gianvito Rossi [PHOTOS] Best of Footwear News Deion Sanders' Shoes and Style Evolution Through the Years [PHOTOS] The Most Stylish Met Gala Couples Through The Years [PHOTOS] Kim Kardashian's Met Gala Shoe Looks Through the Years [PHOTOS]
Yahoo
12-05-2025
- Entertainment
- Yahoo
Selena Gomez Showcases Reptilian Paris Texas Boots on Set For ‘Only Murders in the Building' Season Five
Season Five of 'Only Murders in the Building' is in production, and Selena Gomez is back on set wearing fashionable ensembles, including chic shoes. The actress accented an academic look with a pair of boots from Paris Texas while filming in New York City on Thursday, where the Hulu series takes place. Filming alongside her dapperly dressed castmates Steve Martin and Martin Short, Gomez wore a masterfully layered look that evoked fall in New York City energy. The actress modeled an orangey-brown leather pleated skirt with a brown and white gingham vest and a gray blazer with dangling baroque pearl details. She also showcased a cream colored leather overcoat which blended in nicely with her earthy-hued ensemble. More from Footwear News Charli XCX Gives 'It Girl' Energy in Black Leather Lace-Up Boots at 'The Overcompensating House' Event at Coachella Heidi Klum Shows Off Slouchy Jeffrey Campbell Burgundy Boots with Free-Spirited Ensemble in NYC Worn over a pair of sheer tights with a subtle diamond pattern, Gomez modeled glossy knee-high brown boots with reptilian embossment. The silhouette featured a pointed toe, a rounded shaft with a slightly slouchy effect when worn, and a thick block heel of modest height. Her shoes strongly resembled Paris Texas' Anja Boot in chocolate brown, which are crafted from leather and retail for $965. Gomez likely wore the iteration of the boot featuring the 70 mm heel, a shorter option from the brand. The actress is no stranger to boots — a previous look she has showcased on set for 'Only Murders in the Building' included a pair of burgundy lace-up boots from Camper. Paris Texas boots have proved to be quite popular amongst celebrities lately. Alicia Keys, for example, wore a black pair with a buckle to celebrate the one year anniversary of her Broadway show 'Hell's Kitchen' and Florence Pugh donned a white pair for an appearance at CinemaCon. Selena Gomez's Best Footwear Moments in 2025, So Far [Photos] View Gallery10 Images Launch Gallery: Selena Gomez's Best Footwear Moments in 2025, So Far [Photos] Best of Footwear News Awkwafina's Sleek Shoe Style Through the Years [PHOTOS] Victoria Justice's Shoe Style Evolution Over the Years [PHOTOS] Laverne Cox's Shoe Style Evolution [PHOTOS]
Yahoo
12-05-2025
- Entertainment
- Yahoo
Selena Gomez Showcases Paul Andrew Biker Boots on Set of ‘Only Murders in the Building'
Selena Gomez showcased an edgy sleuth aesthetic featuring a pair of Paul Andrew boots in New York City last week while on set for the series 'Only Murders in the Building,' which is currently filming its fifth season. Gomez modeled a layered look featuring a long sleeve striped turtleneck in a soft blue hues underneath a collared black leather minidress with short sleeves. The dress was cinched at the waist with a belt and paired with opaque black tights. Gomez could also be seen on set at certain times wearing a leather overcoat in a teal shade. Her accessories included a slim pair of sunglasses and a puffy black quilted bag. More from Footwear News Gwen Stefani Shows Off Flower-Adorned Dr. Martens to Perform at iHeartRadio's 102. 7 KIIS FM Wango Tango Heidi Klum is Airport Ready in Boho-Inspired Suede Booties at the 78th Cannes Film Festival With Husband Tom Kaulitz Gomez's look was rounded out by a pair of heeled black leather boots, what looked to be Paul Andrew's Biker Boot style. The silhouette featured a shaft reaching the mid-calf region in addition to an almond toe and a stacked block heel measuring 85 mm. The brand makes itself known with A-shaped silver buckles of different sizes on the side of the shaft. The shoes are a part of Paul Andrew's Season 3 collection which also includes an over-the-knee biker boot called Biker OTK, platform boots, shearling ballerina shoes and boots, and more styles. In January, Paul Andrew released his Season 6 campaign, which showcased the work of 12 international artists. Andrew also serves as the creative director of Sergio Rossi, a role he took on in 2024. This wouldn't be the first time Gomez donned a pair of heeled boots on the set of 'Only Murders in the Building. The actress, who stars in the show alongside Steve Martin and Martin Short, showcased brown leather boots with a reptilian design — what looked to be Paris Texas' Anja Boot — with another layered ensemble in April. Discover more Gomez's 2025 shoe moments below. Selena Gomez's Best Footwear Moments in 2025, So Far [Photos] View Gallery10 Images Launch Gallery: Selena Gomez's Best Footwear Moments in 2025, So Far [Photos] Best of Footwear News Deion Sanders' Shoes and Style Evolution Through the Years [PHOTOS] The Most Stylish Met Gala Couples Through The Years [PHOTOS] Kim Kardashian's Met Gala Shoe Looks Through the Years [PHOTOS]
