Nike Sued Over Withheld Tariff Refunds; Monster and Celsius Beat Q1 Forecasts
A U.S. class action alleges Nike withheld consumer-paid tariff refunds on goods sold since 2022, potentially pressuring branded apparel suppliers in Costco warehouses. Monster Beverage and Celsius Holdings beat Q1 revenue and profit forecasts, easing investors’ fears of energy-drink fatigue vital to Costco’s beverage sales.
1. Nike Tariff Refund Lawsuit
A class action filed in U.S. District Court accuses Nike of failing to pass on consumer-paid tariff refunds on products sold since 2022, alleging unjust enrichment. The case seeks to recover undisclosed amounts and could signal tighter margins for branded apparel sold through wholesale channels including Costco.
2. Monster and Celsius Q1 Earnings
Both Monster Beverage and Celsius Holdings reported Q1 revenue and profit above analysts’ estimates, driven by sustained volume growth and promotional strategies. Their results assuaged concerns over a decelerating energy-drink market that contributes significantly to beverage sales at warehouse clubs like Costco.