(AP Photo/Eric Risberg, File)

Nike Making Bank After Colin Kaepernick Ad

Sales Up, Stock Price Up

September 25, 2018 - 2:01 pm
Categories: 

By MAE ANDERSON ,  AP Business Writer

 

NEW YORK (AP) — Nike caused an uproar earlier this month with its ad featuring former NFL quarterback Colin Kaepernick that debuted just as the football season was about to begin. But the shoe maker's stock is up and sales have been steady.

The furor seems to have died down as the company reports earnings on Tuesday.

While purpose-driven marketing can be a land mine for some companies, others like Nike have found it a useful way to appeal to their core demographic and differentiate themselves.

Nike is expected to report net income of 63 cents per share on revenue of $9.93 billion for the fiscal first quarter ended Aug. 31, according to FactSet. If they hit that target, it would represent a revenue increase of 9 percent from a year ago.

 

All contents © copyright 2018 Associated Press. All rights reserved.