Has Nike Sales Ebbed After Their Colin Kaepernick Advert Was Dropped? The Answer Is A Heartbeat Away
Reports say online sales for Nike Inc. are up a whopping 31 percent in the period from Labour Day Sunday through Tuesday, compared to 17 percent increase in the same period last year.
Despite a steep initial loss after the announcement of the controversial ad, Nike’s stock (NKE) reversed its losses and climbed to $80.30, an increase of one percent from the drop to $79.01 on Tuesday.
Nike’s NKE, -0.12% 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, according to 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.”
Nike stock is also up 53 percent over the last year, and 135 percent over the last 5 years.
The controversial Kaepernick Nike ad aired Thursday during the kickoff game for the 2018 season, and will air during other games for the rest of the season.