SAN FRANCISCO, May 21 (Xinhua) -- Nike is set to raise prices on its footwear, apparel and sports equipment as early as this week, according to a report by CNBC on Wednesday.

A source familiar with the matter revealed that prices for adult apparel and equipment will increase by 2 U.S. dollars to 10 dollars. Footwear priced between 100 dollars and 150 dollars will see a 5-dollar hike, while sneakers retailing above 150 dollars will rise by 10 dollars.

The price increases are expected to take effect no later than June 1, although some adjustments may appear on store shelves this week. While the hikes will impact a broad range of Nike's product lineup, many items will remain unchanged. The company has also notified its wholesale partners of the changes.

Prices for children's products and items under 100 dollars will remain unaffected, CNBC noted.

"We regularly evaluate our business and make pricing adjustments as part of our seasonal planning," Nike said in a statement. The company did not cite tariffs as a reason for the changes.

Previously, Nike co-signed a letter from the Footwear Distributors and Retailers of America addressed to the administration of U.S. President Donald Trump, warning that "American footwear businesses and families face an existential threat from such substantial cost increases."