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3.20.2011

Nike Set to RAISE Prices on All Future Products

"The sportswear company, which owns the Nike, Umbro and Converse brands, warned that the rising cost of cotton, oil and transportation will squeeze profit margins.


Nike’s chief financial officer Don Blair said in a conference call to analysts yesterday (18 March) that until now price increases had been in specific markets on particular product lines but from its next financial year prices would increase “across the board”. The company’s current financial year ends 31 May.


Blair was speaking as the company reported that net profit for its third quarter increased 5% to $523m. Revenue rose 7% to $5.1bn.


The gains were driven by a 21% revenue bump in China and a 19% gain in emerging markets, which partly offset a 2% fall in earnings from Western Europe."



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..Guess that explains talk of future Foamposite being Msrp'D @ $225..

..And the Lebron 9 is going to cost $165..

..I don't know how much longer I can continue to be a Sneakerhead with prices like these..

..This shit is getting outta hand..

..Basically gonna cost us nearly $245 to cop some Foams?..

..Ridiculous, might be time to hang up my Jersey and retire from this shit..

-Def
P.S. Shouts to Evin
News taken from http://www.marketingweek.co.uknike-set-to-increase-prices.article

1 comment:

xNastyNatex said...

good post
after a select few release this year, imma stick to coping older shit