Nike shares hit all-time high

When Nike cast former NFL quarterback Colin Kaepernick in their recent campaign, the controversy couldn't have followed any faster with people burning their Nike sneakers and apparel. Kaepernick's activism both on and off the field regarding civil rights and ending police brutality made him a point of attack for the conservative right, who turned his choice to kneel during the national anthem from an issue of racial injustice to one regarding anti-patriotism. The new ads featuring him were met with immediate backlash, but Nike appears to be riding that backlash all the way to the bank.

Last week Thursday, the brand's shares hit an all-time high of 83 dollars and 47 cents. Although it was thought that the backlash would also hurt Nike's sales, they are already trending well above where they were last year.

Bloomberg reported that data from Edison trends showed that sales the day after Labor Day were 22 percent higher than the same day last year in 2017. Sales remained 22 percent above last year's throughout the rest of the week.

Bloomberg did note, however, that the date is incomplete. Edison only captures online sales, so it only shows the results of those who shopped in support of Nike's new ad campaign. It is still too early to account for the effect that those boycotting the brand will have on sales.

photo: via Nike Newsroom




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