Plus   Neg

Colin Kaepernick's "Just Do It" Campaign Boosts Nike Sales

Nike Inc.'s (NKE) decision to bring former NFL player Colin Kaepernick for its latest "Just Do It" campaign was widely criticized and was expected to negatively impact its sales. However, it seems that the controversy was overblown and the campaign has driven Nike' sales up.

According to Market Watch, after an initial dip, Nike's online sales actually grew 31% from the Sunday of Labor Day weekend through Tuesday. This trumped last year's 17% increase, according to San Francisco-based Edison Trends.

"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," said Hetal Pandya, co-founder of Edison Trends.

The report does not factor in brick-and-mortar sales.

Nike's shares had slipped over 3% when the company announced its advertisement deal with Kaepernick.

Early this week, Nike announced its advertising campaign will feature Colin Kaepernick, the former NFL quarterback who led the protests against racial injustice during the national anthem. The ad campaign marks the thirtieth anniversary of Nike's #JustDoIt campaign.

Nike faced huge backlash on social media after the company announced its endorsement deal with Kaepernick, with the hashtags #BoycottNike and #JustBurnIt trending on Twitter. Several angry customers posted images of themselves burning or ripping their Nike apparel and shoes to protest the company's move.

Kaepernick, a former San Francisco 49ers quarterback, had started the national anthem kneeling movement during a pre-season game in 2016, to show his protest against racial injustice and mistreatment of black people by the police.

Hundreds of more players joined Kaepernick and started kneeling during the playing of the U.S. national anthem.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Shares of Nordstrom Inc. (JWN) slipped 10 percent in extended hours on Thursday after the department store chain's full-year revenue outlook fell short of Street estimates. Seattle-based Nordstrom's third-quarter profit dropped to $67 million or $0.39 per share from $114 million or $0.67 per share... Shares of Nvidia Corp. (NVDA) plunged 16% in extended session on Thursday after chip designer's third-quarter revenues and fourth quarter outlook fell short of Wall Street estimates. Santa Clara, California-based Nvidia's third-quarter profit surged to $1.23 billion or $1.97 per share from $838 million... Retail giant Walmart Inc. on Thursday reported a 2 percent decrease in profit for the third quarter from last year as higher revenues were offset by one-time charges. However, adjusted earnings per share beat analysts' expectations, while revenue missed estimates. Looking ahead, the company lowered its outlook for fiscal 2019 reported earnings, but raised its outlook for adjusted earnings.
Follow RTT