Nike shares faced a 3.2 percent drop from the release of the ad campaign, but this since has been erased, as the company made gains through media exposure.
Nike shares were up .94 percent Thursday following its shares hitting a record earlier in the week. Overall, this year Nike shares are up 35 percent with confidence growing in digital sales, according to analysts.
“I thought Nike would have problems with the Kaepernick situation. I was wrong,” said Eric Aanes, president and founder of Titus Wealth Management. “Their edgy marketing appeared to pay off for them.”
The company now projects restructuring costs of $200 million to $220 million, up from previously expected costs of $190 million to $210 million.
“Following further evaluation, the company has identified approximately $10 million of cash severance charges related to an approximate 3 percent reduction in its global workforce,” company’s statement said.
The restructuring plan is based on
Although some analysts have concerns about competition from e-commerce hurting sportswear companies, other companies have managed stock market gains this year, including Adidas in