Latest news with #MattFriend
Yahoo
28-05-2025
- Entertainment
- Yahoo
Comic roasts Trump, Obama, McConnell & gets LOLs from Obama to hosts at MSNBC and Fox
Comic Matt Friend brings the laughs with spot-on impressions of President Trump, JD Vance, Hakeem Jeffries, Barack Obama, and more in this special comedy interview on 'The Beat.' Friend also talks about the importance of comedy in politics. (Subscribe to Ari's YouTube now:
Time of India
27-05-2025
- Business
- Time of India
Adidas or Nike? Guess which sneaker brand is increasing its prices from June 1, 2025 amid US tariff pressure
No it's not Adidas! Global sportswear giant Nike is set to raise retail prices across a selection of its products in the US starting Sunday, June 1, as it grapples with rising import costs and geopolitical trade headwinds. Tired of too many ads? go ad free now The company has also announced its return to Amazon after a six-year hiatus, signalling a strategic shift amid softening consumer sentiment. The pricing revision will affect adult apparel and equipment, which will go up by $2 to $10 (approx. ₹167 to ₹835). Footwear priced between $100 and $150 (₹8,350 to ₹12,525) will see a $5 (₹417) hike, while shoes exceeding $150 (₹12,525) could rise by up to $10 (₹835). However, not all products will see a price bump. Nike's iconic Air Force 1 sneakers (currently priced at $155 or ₹12,942), kids' collections, and Jordan-branded merchandise will remain unaffected. Items below $100 (₹8,350) will also retain their current pricing. Why is Nike raising prices? Though Nike hasn't explicitly cited US tariffs as the reason for the hike, the timing is telling. Most of its goods are manufactured in Asia, particularly China and Vietnam, regions now facing a 10% import levy in the US, with more steep tariffs postponed until July. 'Price adjustments are a regular part of our seasonal planning,' Nike said in a statement, while its CFO Matt Friend earlier hinted at navigating 'external uncertainties' such as tariffs and declining consumer confidence. While companies often absorb tariffs initially, they tend to pass on the cost to consumers eventually. Competitors like Adidas and Puma have already issued similar warnings, with Adidas suggesting popular models like the Gazelle and Samba could get costlier in the U.S. Tired of too many ads? go ad free now What does this mean for Indian consumers? Though the price hikes are currently limited to the US, Indian consumers could eventually feel the ripple effects: Imported pricing pressure: Premium Nike products sold in India, particularly limited-edition sneakers and high-end apparel, are often imported from global warehouses, which means global pricing strategy shifts can impact Indian retail tags over time. Currency impact: A strengthening US dollar against the Indian rupee (currently hovering around ₹83.5 to $1) could further amplify retail prices of international brands in India, especially those that don't manufacture locally. Luxury and streetwear crossover: As India's luxury fashion and sneaker culture grows, international pricing adjustments like this can reshape local resale markets, especially for cult favourites like Jordans and Air Force 1s. Amazon re-entry strategy: Nike's return to Amazon US might rekindle interest in strengthening its e-commerce partnerships globally. Indian buyers could potentially see greater online availability of select Nike products, although whether that translates to better pricing remains uncertain. Retailer's tightrope By excluding kids' products and budget-friendly items, Nike seems to be cushioning the blow for price-sensitive segments. At the same time, its return to Amazon - a move away from its prior direct-to-consumer only stance, shows a more flexible, consumer-focused approach. Globally, companies like JD Sports and Puma have voiced concern that higher prices could dampen demand, especially in price-sensitive markets. For Indian retailers and consumers, these developments underscore a volatile pricing environment, where global trade, politics, and inflation intersect with your favourite pair of sneakers.
Tom's Guide
22-05-2025
- Business
- Tom's Guide
Nike announces price hikes on shoes and apparel — what you need to know
Starting in June, Nike is planning to increases prices on some of its sneakers and apparel, a growing trend among fitness clothing makers. While Nike isn't openly blaming President Trump's global tariffs, the company did say it regularly makes "price adjustments." As the BBC reports, in March, Nike said, "We regularly evaluate our business and make pricing adjustments as part of our seasonal planning." Most of Nike's products are produced in Asia, especially in Vietnam and Cambodia. While not hit with the 145% tariff that China faced earlier this year, those countries also faced stiff tariffs of between 32% and 54%. Even with the recent pause of Trump's "reciprocal" tariffs for 90 days, there is still a base 10% tax against most of the globe. In March, it was reported that the company was "navigating through several external factors that create uncertainty in the current operating environment" including tariffs. During the March call Nike CFO Matt Friend said the company raising prices was "the impact of this uncertainty and other macro factors on consumer confidence." Get instant access to breaking news, the hottest reviews, great deals and helpful tips. While Nike isn't openly blaming tariffs for price increases, it may be because it doesn't want to get on President Trump's radar. This past weekend, Trump took to the conservative social media platform Truth Social to excoriate Walmart for admitting that price increases are due to the tariffs. "Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain. Walmart made BILLIONS OF DOLLARS last year, far more than expected," his post read. It added that the company should "EAT THE TARIFFS." Starting June 1, Nike shoes that cost more than $100 will see prices rise as much as $10. Clothing and equipment will go up between $2 and $10. According to the BBC, shoes like the Air Force 1s and shoes that are under $100, will not get retain their current prices. Children's products and Jordan-branded clothing and accessories are also exempt.
Harvard Business Review
28-03-2025
- Business
- Harvard Business Review
Research: How Retailers Respond When Brands Start Selling Direct
In one of Nike's first earnings calls under its new leadership in 2024, CFO Matt Friend announced that the company would be re-engaging with retail partners to right some of their 'missteps related to over-centering on direct.' In 2017, Nike had drastically ramped up their investments in their own channels, including launching several web shops (such as mobile apps (like Nike SNKRS), and numerous physical stores. In response, many retailers pulled back from Nike and increasingly relied on other brands to stock their inventories and shelves. The Financial Times reported that the proportion of Foot Locker's inventory from Nike fell from 75% to 65% in the last three years. Nike realized their investment in direct channels was hurting their business, and they are trying to reverse course. But could all of this have been avoided?
Axios
28-02-2025
- Entertainment
- Axios
Best Day Ever: Comedian Matt Friend's favorite places in Chicago
Comedian Matt Friend's impressions of Howard Stern, Jennifer Coolidge and Jeff Goldblum have taken the 26-year-old from TikTok superstar to mainstream voice actor on shows like "Family Guy" and "The Simpsons." Not bad for a kid from Lincoln Park. State of play: Friend returns to his stomping grounds next week for a live show at the Park West. His days from clowning around the North Side may be over, but his love of his hometown is still strong. We asked Matt to reminisce about growing up here and what his perfect day in Chicago would look like: 🍔 Breakfast:"I'm gonna do a double lunch answer and get a burger at Small Cheval … a Chicago classic that I truly dream about eating ALWAYS." 🏃 Morning activity: "Go for a run by Lake Michigan. I'll start in Lincoln Park near where I went to high school and then go up and down the trail … It's the Turkey Trot trail in Chicago which I do every year at Thanksgiving with my sister Nina and cousin Jonny." 🥗 Lunch:" Athenian Room … It's such a classic. I love a gyros salad and the wet fries … Also must get the red sauce." 🍪 Afternoon activity: "I go over to my mom's INCREDIBLE cookie store, Big Fat Cookie on Halsted. Throughout my childhood, my mom's creativity in the kitchen inspired me so much and I think ultimately helped lead me to become a comedian. You should all go!!" 🍜 Dinner:"I love Shanghai Terrace in the Peninsula Hotel. It's my favorite restaurant in Chicago and I have so many wonderful memories of weekend family dinners there … My favorites are the Kung Pao potato and beef." 🥤 Evening activity: "Chocolate milkshake at Wieners Circle … kidding!! Although I did order one when I was a kid and let's just say: I'm a comedian now." "I love going to Blackhawks games … I hosted the NHL Awards in Vegas and it was especially sweet knowing that I come from a city that won three Stanley Cups in my childhood!" 🤣 Afterparty: " MY OWN SHOW AT PARK WEST BABY!! Chicago is a comedy town … I interned at Second City and grew up idolizing Zanies and the overall history of comedy in the city." "I wrote a paper in eighth grade about Chicago's impact on comedy. And now it's my turn to make Chicago and the world laugh!! Can't wait!!"
