Nike Takes Billion Dollar Tariff Hit But Predicts Hard Yards Behind It

Despite tariffs, Nike believes the worst is behind it.gettyNike put a billion-dollar price tag on tariff costs Thursday, while it proclaimed that the worst should be behind the company as sales and profit declines moderate ahead.The Portland-based footwear giant took its largest financial hit yet from its extensive turnaround plan during its fiscal fourth quarter as finance chief Matt Friend conceded to analysts on an earnings call that the tariff duties represented a “new and meaningful” cost to the busine ...