Nike will raise prices and return to selling on Amazon
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Nike has announced it is coming back to Amazon after leaving the platform in 2019. The company blamed its departure on the platform's inability to handle counterfeiters and unlicensed sellers.
Nike is the latest retailer to announce price hikes amid President Donald Trump’s elevated import tariffs. See what retail companies have done so far.
Depending on the item, prices will increase between $2 to $10. However, some items will not be subject to the increases.
Nike will be back on Amazon as the footwear maker works to regain market share from newer and trendier competitors amid a turnaround push under CEO Elliott Hill.
Nike shares are trading higher in Wednesday's after-hours session following a report that the company will sell on Amazon.com for the first time in six years.