LeBron recently bragged about how Nike’s stock is doing well following the Kaepernick nonsense.
He’s clearly feeling himself at the moment but the stock’s current performance doesn’t reflect the possibility that the brand could be damaged long term.
Check out this report…
From Seeking Alpha:
The initial read on sales from Edison Trends (via MarketWatch) provided some initial positives on online sales. Related sales surged 31% for the holiday Labor Day weekend topping the growth from the prior year.
Hidden in the report was a small nugget from 4C Insights that the sentiment towards the brand dropped 38% in the initial couple of days following the ad. The data points suggest that favorable consumers rushed out to buy Nike gear over the holiday weekend while the brand was damaged that could have long-term impacts.
There’s clearly more to the story.
