Latest news with #StanSmiths
Yahoo
13-05-2025
- Business
- Yahoo
Adidas warns US customers will soon pay more for its shoes as company runs up against Trump's ‘tariff wall'
A fresh pair of Adidas kicks might leave you light on your feet. Your wallet may feel the same. The German footwear giant, which makes the popular Samba, Stan Smiths and carbon-plated racing shoes setting running records across the globe, is warning customers that U.S. tariffs on imports from China and other Asian countries will drive the cost of its shoes higher. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) Even as the company announced better-than-expected first quarter earnings, CEO Bjørn Gulden said Adidas will cost more in the U.S. 'Although we had already reduced the China exports to the US to a minimum, we are somewhat exposed to those currently very high tariffs,' Gulden said. 'What is even worse for us is the general increase in US tariffs from all other countries of origin.' He added that Adidas cannot currently make its shoes in the U.S. Tariff headaches aren't exclusive to Adidas, which co-signed a letter with bitter rival Nike and other shoe brands asking President Trump for a tariff exemption. 'Many companies making affordable footwear for hardworking lower and middle-income families cannot absorb tariff rates this high, nor can they pass along these costs,' the letter stated. 'Without immediate relief from the reciprocal tariffs they will simply shutter.' Read more: BlackRock CEO Larry Fink has an important message for the next wave of American retirees — here's how he says you can best weather the US retirement crisis Like Adidas, other industry leaders are making public-facing announcements that they are raising their retail prices due to the Trump administration's tariffs. Fashion-focused platforms Shein and Temu, which rely heavily on inexpensive Chinese imports, each posted statements on their websites about price hikes, directly citing increased operating costs from tariffs. President Trump introduced tariffs to push back against perceived unfair trade practices from China and other nations — and to encourage multinationals to set up factories in the U.S. 'Bring your factory here,' Treasury Secretary Scott Bessent said in a recent interview with Tucker Carlson. 'That's the best solution for getting away from a tariff wall. So move your factory from China, from Mexico, from Vietnam – bring it here.' But critics say it will be nearly impossible for companies to produce goods in the U.S. as cheaply as overseas — so for now, businesses and consumers will continue to pay more for imports. With the looming reality of higher prices across multiple product categories, consumers should consider getting proactive about budgeting. Here are some ways to do that. 1. Cut unnecessary expenses. Review subscriptions (streaming services, gym memberships, unused apps) and cancel anything non-essential. Small trims add up quickly, providing breathing room for unavoidable price hikes. 2. Shop smarter. Like most footwear brands, Adidas or Nike discount older models to clear inventory. Some brands, like New Balance, have a dedicated used shoe store online where buyers can get gently used models at much lower prices. 3. Buy local. You can bypass tariff trouble with locally sourced products and as a bonus, support your local economy. Visit farmers markets, boutique shops and local artisans frequently offer competitive pricing without import tariffs eating into the final cost. 4. Keep an eye on tariff-impacted goods. Follow news about tariffs and if possible, delay big-ticket purchases until prices stabilize. For essentials, look into alternative or generic brands that deliver similar quality at a lower cost. 5. Leverage technology to stay ahead. Use price-tracking apps and browser extensions to spot deals and compare prices across online retailers. Alerts for price drops can help you pounce on savings, providing additional cushioning in your monthly budget. Adidas' warning is just one example of how economic policy decisions ripple through your daily spending. Staying informed, shopping smarter and adjusting your habits can help mitigate some of the pain — and maybe even uncover new ways to stretch your dollars further. Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-05-2025
- Business
- Yahoo
Adidas warns US customers will soon pay more for its shoes as company runs up against Trump's ‘tariff wall'
A fresh pair of Adidas kicks might leave you light on your feet. Your wallet may feel the same. The German footwear giant, which makes the popular Samba, Stan Smiths and carbon-plated racing shoes setting running records across the globe, is warning customers that U.S. tariffs on imports from China and other Asian countries will drive the cost of its shoes higher. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) Even as the company announced better-than-expected first quarter earnings, CEO Bjørn Gulden said Adidas will cost more in the U.S. 'Although we had already reduced the China exports to the US to a minimum, we are somewhat exposed to those currently very high tariffs,' Gulden said. 'What is even worse for us is the general increase in US tariffs from all other countries of origin.' He added that Adidas cannot currently make its shoes in the U.S. Tariff headaches aren't exclusive to Adidas, which co-signed a letter with bitter rival Nike and other shoe brands asking President Trump for a tariff exemption. 'Many companies making affordable footwear for hardworking lower and middle-income families cannot absorb tariff rates this high, nor can they pass along these costs,' the letter stated. 'Without immediate relief from the reciprocal tariffs they will simply shutter.' Read more: BlackRock CEO Larry Fink has an important message for the next wave of American retirees — here's how he says you can best weather the US retirement crisis Like Adidas, other industry leaders are making public-facing announcements that they are raising their retail prices due to the Trump administration's tariffs. Fashion-focused platforms Shein and Temu, which rely heavily on inexpensive Chinese imports, each posted statements on their websites about price hikes, directly citing increased operating costs from tariffs. President Trump introduced tariffs to push back against perceived unfair trade practices from China and other nations — and to encourage multinationals to set up factories in the U.S. 'Bring your factory here,' Treasury Secretary Scott Bessent said in a recent interview with Tucker Carlson. 'That's the best solution for getting away from a tariff wall. So move your factory from China, from Mexico, from Vietnam – bring it here.' But critics say it will be nearly impossible for companies to produce goods in the U.S. as cheaply as overseas — so for now, businesses and consumers will continue to pay more for imports. With the looming reality of higher prices across multiple product categories, consumers should consider getting proactive about budgeting. Here are some ways to do that. 1. Cut unnecessary expenses. Review subscriptions (streaming services, gym memberships, unused apps) and cancel anything non-essential. Small trims add up quickly, providing breathing room for unavoidable price hikes. 2. Shop smarter. Like most footwear brands, Adidas or Nike discount older models to clear inventory. Some brands, like New Balance, have a dedicated used shoe store online where buyers can get gently used models at much lower prices. 3. Buy local. You can bypass tariff trouble with locally sourced products and as a bonus, support your local economy. Visit farmers markets, boutique shops and local artisans frequently offer competitive pricing without import tariffs eating into the final cost. 4. Keep an eye on tariff-impacted goods. Follow news about tariffs and if possible, delay big-ticket purchases until prices stabilize. For essentials, look into alternative or generic brands that deliver similar quality at a lower cost. 5. Leverage technology to stay ahead. Use price-tracking apps and browser extensions to spot deals and compare prices across online retailers. Alerts for price drops can help you pounce on savings, providing additional cushioning in your monthly budget. Adidas' warning is just one example of how economic policy decisions ripple through your daily spending. Staying informed, shopping smarter and adjusting your habits can help mitigate some of the pain — and maybe even uncover new ways to stretch your dollars further. Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
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Business Standard
30-04-2025
- Business
- Business Standard
Adidas products may become costlier in the US, thanks to Trump tariffs
Amid global market uncertainty triggered by Trump tariffs, German-headquartered sportswear giant Adidas on Tuesday said it could hike price of all its US products. The company did not make it clear by how much it is going to increase the prices. The company said that the global trade dispute was preventing it from raising its full-year outlook despite a substantial increase in first-quarter profits, according to a report by CNBC. 'Higher tariffs will eventually cause higher costs for all our products for the US market,' Adidas said in a statement as quoted by CNBC. After Trump imposed 145 per cent tariffs on imports from China, Adidas said it had already reduced its China-made products shipped to the US to a minimum. Yet, the biggest impact on the company is from the general 10 per cent tariffs imposed on all other counties by the US. 'Given the uncertainty around the negotiations between the US and the different exporting countries, we do not know what the final tariffs will be,' the Adidas statement mentioned. No clarity on what to do Currently, various countries are in talks with the US to reach a trade agreement to avoid elevated tariffs, ensuring fair trade practices. As a result, companies across the world are unclear on their businesses and are unable to make decisions on their future course of work, including Adidas. Also Read 'Therefore, we cannot make any 'final' decisions on what to do. Cost increases due to higher tariffs will eventually cause price increases, not only in our sector, but it is currently impossible to quantify these or to conclude what impact this could have on the consumer demand for our products,' Adidas explained in its statement, as quoted by CNBC. Adidas said it was currently unable to produce almost any of its products in the US. Retailers weigh cost of tariffs The company, famous for sneakers like Superstar, Sambas, Stan Smiths, and Gazelles, as well as sportswear, makes its products in countries like Vietnam and Cambodia. These countries could face US tariffs of over 40 per cent because there is no trade deal, according to the media reports. Global uncertainty caused by tariffs The Trump tariffs created global uncertainty by raising import taxes on goods from countries like China, Vietnam, and others, disrupting global supply chains. Businesses were unsure about future costs, trade policies, and sourcing decisions, leading to price increases, shifting manufacturing locations, and concerns about demand and profits. This uncertainty affected everything from low-cost retailers to luxury brands.
CNBC
29-04-2025
- Business
- CNBC
Adidas warns it will raise prices on all U.S. products due to tariffs
Sportswear giant Adidas on Tuesday said that U.S. President Donald Trump's tariffs would result in price hikes for all its U.S. products. The company said it did not yet know by how much it would boost prices, also noting that the global trade dispute was preventing it from raising its full-year outlook despite a bumper increase in first-quarter profits. "Higher tariffs will eventually cause higher costs for all our products for the US market," Adidas said in a statement. The company said it was "somewhat exposed" to White House tariffs on Beijing — currently at an effective rate of 145% — but that it had already reduced exports of its China-made products to the U.S. to a minimum. However, it said the biggest impact was coming from the general increase in U.S. tariffs on all other countries, which are largely held at 10% while trade negotiations take place. "Given the uncertainty around the negotiations between the US and the different exporting countries, we do not know what the final tariffs will be," the Adidas statement continued. "Therefore, we cannot make any 'final' decisions on what to do. Cost increases due to higher tariffs will eventually cause price increases, not only in our sector, but it is currently impossible to quantify these or to conclude what impact this could have on the consumer demand for our products." Adidas said it was currently unable to produce almost any of its products in the U.S. The company, best-known for sneakers including Superstar, Sambas, Stan Smiths and Gazelles as well as sportswear, uses factories in countries including Vietnam and Cambodia — which are facing U.S. tariffs upwards of 40% in the absence of a trade deal. A similar dilemma regarding price hikes and demand impact is facing almost all retail businesses which serve the U.S., from ultra-low-cost e-retailers like Temu to luxury giants such as Hermès. Without the cloud of U.S. tariffs, Adidas would have raised its full-year outlook for revenues and operating profit due to a strong order book and positive brand sentiment, the company said. It instead reaffirmed its existing outlook, but said the "range of possible outcomes has increased." In results that were largely pre-released, net income from continuing operations leapt 155% in the first quarter to 436 million euros ($496.5 million), above the 383 million euros forecast in an LSEG-compiled consensus. Net sales climbed 12.7% to 6.15 billion euros as its operating margin rose 3.8 percentage points to 9.9%. The firm has finally shaken off a years-long headache from its collaboration with controversial musician Ye, with whom it cut ties in 2022 over antisemitic comments. It announced last month it had sold the last of its Yeezy stock. Analysts at Deutsche Bank said in a Tuesday note that Adidas delivered a "good print with the company making progress across all areas," despite higher uncertainty. "So far this year, Adidas has been seeing double digit sales growth across all regions and channels, with wholesale outperforming the direct-to-consumer offering," Mamta Valechha, consumer discretionary analyst at Quilter Cheviot, said in a note. "Footwear continues to be a strong performer, with consumers also opting for lifestyle clothing, while the performance category also continues to do well. Adidas will hope these trends continue in the face of the economic uncertainty created by tariffs in the US, but unfortunately we very much have to wait and see before the full impact comes through."
