Nike, riding a hot streak even before Kaepernick ad, reports smoking sales
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Early returns on Nike’s controversial Colin Kaepernick ad show that it gave the brand a sales boost. But the company was already riding a hot streak before it debuted on Sept. 3.
Nike on Tuesday reported that revenues in the quarter ending Aug. 31 jumped 10 percent over the year-earlier period to $9.9 billion, driven by double-digit international growth, international performance and what the company characterized as strong momentum in North America. Net income for the period was $1.1 billion, a 15 percent rise over the year-earlier period.
Executives avoided discussing the Kaepernick ad on a conference call until questioned by analysts, and even then CEO Mark Parker avoided mentioning the former San Francisco quarterback by name. But Parker expressed a vote of confidence in the campaign, which was broadly seen as Nike supporting NFL players who kneel during the national anthem to protest social inequities.
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