Shares in JD Sports Fashion PLC (LSE:JD.) rose 3.5% in early trading, buoyed by news that Nike will raise prices on a range of its footwear and apparel from 1 June.
The UK retailer, the American brand’s largest stockist in the country, recovered some ground after a 6% drop on Wednesday, when it issued a disappointing trading update and warned that tariffs were weighing on its business.
Investors in the UK apparel group are grasping for any morsel of good news, and the Nike news fitted the bill.
Meanwhile, the US sportswear giant said prices will rise by up to $10 on most shoes retailing above $100, while clothing and equipment will increase by between $2 and $10.
Flagship models such as the Air Force 1, items under $100, children’s products and the Jordan range will be excluded from the adjustments.
The company attributed the changes to routine seasonal planning and gave no indication they were linked to tariffs or supply chain disruption.
It also confirmed it will resume direct sales to Amazon in the US, ending a six-year absence from the platform. Nike had previously pulled out to focus on driving traffic to its own stores and website.
The move comes as the group faces slowing sales in its core North American market and broader pressure from inflation and shifting consumer demand. Pricing, the company said, is regularly reviewed.
The stock rose 2.82p to 85.94p.