Nike sales soar, and Coca-Cola invests in a trendy startup: Friday Wake-Up Call
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Nike’s Colin Kaepernick ad had fans and detractors, but hard numbers on quarterly sales bolster the case that Nike’s move was smart for business. In the quarter that ended Nov. 30, Nike Inc.’s revenue jumped 10 percent over the year-earlier period to hit $9.4 billion. Looking at the Nike brand alone (excluding holdings such as Converse), revenue rose 14 percent to $8.9 billion, as Ad Age’s Adrianne Pasquarelli writes. The “Just Do It” ad — featuring the former NFL quarterback who led the anthem protests against racial inequality — debuted just as the quarter started up. Andy Campion, exec VP and chief financial officer, told analysts that Nike “reignited brand heat in North America” with the campaign. Also worth noting: Sales soared 26 percent in China, despite the U.S.-China trade war.
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