Nike CEO proud of Kaepernick ad and its results
7:22 PM ET
Nike CEO Mark Parker on Tuesday said the company’s use of Colin Kaepernick in the brand’s recent “Just Do It” spots has resulted in “record engagement with the brand.”
“We feel very good and are very proud of the work we’ve been doing,” Parker said, speaking on the company’s quarterly earnings call. “We know it’s resonating quite strongly with consumers here in North America and around the world.”
Nike announced on the earnings call that its revenue over the past three months, a period which ran until Aug. 31, was up 9 percent to $9.9 billion. The last day included was days before the first Kaepernick spots appeared.
Since the Kaepernick ads ran, Nike’s stock has risen 6.25 percent, adding $6.38 billion to the company’s value, though it’s obviously inconclusive how much of that, if any, is due to Kaepernick. Nike stock, after earnings were announced, fell more than 4 percent after hours.
At least three analysts this month have raised the target price on Nike’s stock.
Last week, Beth Comstock, a director on the Nike board, said on CNBC that she and others were informed of Nike’s decision to use the football player-turned-activist, but that