Nike Inc. (NKE)

$ 75.10
   
  • Change Today:
    $1.74
  • 52 Week High: $122.64
  • 52 Week Low: $71.09
  • Currency: US Dollars
  • Shares Issued: 298.00m
  • Volume: 12,818,637
  • Market Cap: $22,380m
  • RiskGrade: 128
  • Beta: 0.61

Nike sales surge 31% after Colin Kaepernick campaign

By Caoimhe Toman

Date: Monday 10 Sep 2018

LONDON (ShareCast) - (Sharecast News) - Nike sales increased by almost a third during the Labour Day weekend following the launch of its controversial advertising campaign starring American football star Colin Kaepernick, according to researcher Edison Trends.
The controversy started in 2016, when Donald Trump attacked the footballer and a handful of other players for refusing to stand for the US national anthem before matches in protest over what they allege is widespread police brutality against African Americans.

Donald Trump said that those who disrespected the US flag were "sons of bxxxxxs" and should be kicked off their teams.

When Kaepernick became the new face of Nike this year, critics encouraged people to destroy their Nike goods in protest. The move caused many Americans to burn their Nike shoes and clothes and post videos on social media denouncing the campaign with the the hashtag #JustBurnIt.

But San Francisco-based Edison Trends, which had expected to see a fall in Nike sales, was shocked to instead find a rise in purchases of Nike goods.

"Online sales actually grew 31% from the Sunday of Labor Day weekend through Tuesday, as compared with a 17% gain recorded for the same period of 2017," the researcher said.

"There was speculation that the Nike/Kaepernick campaign would lead to a drop in sales, but our data over the last week does not support that theory,2 said Edison Trends co-founder, Hetal Pandya.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Nike Inc. Market Data

Currency US Dollars
Share Price $ 75.10
Change Today $ 1.74
% Change 2.37 %
52 Week High $122.64
52 Week Low $71.09
Volume 12,818,637
Shares Issued 298.00m
Market Cap $22,380m
Beta 0.61
RiskGrade 128

What The Brokers Say

Strong Buy 12
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Neutral 10
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Total 39
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