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Brick-and-Mortar

March 18, 2011

Nike to Raise Prices to Offset Rising Costs

Facebook Facebook Twitter Twitter LinkedIn LinkedIn Nike%20shares%20fell%20almost%208%20percent%20in%20premarket%20trading%20after%20the%20company%20warned%20it%20won’t%20hike%20prices%20quickly%20enough%20to%20offset%20rising%20costs.%20Gross%20margin,%20which%20fell%201.1%20percentage%20points%20to%2045.8%20percent%20in%20the%20fiscal%20third%20quarter,%20is%20expected%20to%20narrow%20by%203%20percentage%20points%20in%20the%20fourth%20quarter%20and%20continue%20to%20decline%20in%20the%20next%20fiscal%20year,%20Nike%20executives%20said%20on%20a%20conference%20call.<%2Fa>%0D%0A%0D%0Ahttps%3A%2F%2Fwww.mytotalretail.com%2Faggregatedcontent%2Fnike-up-prices-2012%2F" target="_blank" class="email" data-post-id="30234" type="icon_link"> Email Email 0 Comments Comments

Nike shares fell almost 8 percent in premarket trading after the company warned it won’t hike prices quickly enough to offset rising costs. Gross margin, which fell 1.1 percentage points to 45.8 percent in the fiscal third quarter, is expected to narrow by 3 percentage points in the fourth quarter and continue to decline in the next fiscal year, Nike executives said on a conference call.

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