Overview

• Nike expects President Trump’s Section 301 tariffs to add roughly $1 billion in incremental costs this fiscal year, CFO Matthew Friend said.
• To mitigate the tariff headwind, Nike will cut U.S. footwear imports from China from about 16% to a high-single-digit share by the end of fiscal 2026 by reallocating production to other countries.
• The company has slated “surgical” price increases in the United States this autumn to help fully offset the added tariff expenses.
• In its fiscal fourth quarter ended May 31, revenue fell 12% to $11.1 billion and net income plunged 86% to $211 million year on year.
• Shares rallied as much as 15% in U.S. trading after investors welcomed the tariff‐mitigation plan and the upbeat turnaround outlook under CEO Elliott Hill.