Apparently investors are starting to resent the use of their investment as political tools.
And at least one analyst seems he has not check the news lately and read about what has been published about Dick’s:
“The alt-right calls for a Nike boycott will fail just like the boycott of Dick’s Sporting Goods failed,” said Matt Powell, a senior advisor with market research firm NPD Group. “Old angry white guys are not a core demographic for Nike.”
Nike shares hit as Kaepernick ad spurs boycott
Another analyst points at something interesting: That maybe Nike is too mentally encapsulated in one area. From the same article:
Another analyst, GlobalData Retail’s Neil Saunders, said the campaign will harm Nike in middle America, where it is battle Germany’s Adidas (ADSGn.DE) for dominance in the sneaker market.
“The company’s stand may go down well on its native West Coast; it will be far less welcome in many other locations,” he said.
You know? Eventually there is going to be an Enron-type of company collapse and maybe then companies will get rid of the executives that still think being politically Woke and pissing off half your customers is a good idea.
[Nelson Muntz] HAA HAA!! [/Nelson Muntz]
Go-woke-go-broke indeed. 😉
Executives do this because:
1) marketers tell them the way to endear themselves to young adults is to be activists
2) their wives, daughters, and mistresses, er, “interns” nag them into doing it
3) it gives them something to brag about to other executives, specifically the hoops their employees have to jump through to conform to the latest fad
4) A lot of execs are Ivy Leaguers with the “right” degrees and connections, with knowledge of the “right” way to run a business, but no real experience in actually running a business.
On behalf of my fellow Adidas employees, I’d like to extend an unofficial “thank you” to the folks at Nike.
(BTW, Adidas’ business relationship with well known Trump supporters Kanye West and Min Kardashian continues to be strong. Just sayin’.)
Russell, Puma, Champion, and a whole bunch of other athletic equipment suppliers are very happy this week.
Can you imagine being the decision maker on your high school or league team’s purchase of equipment? Unless you have an already existing contract with Nike, why would you risk the wrath of some of your team’s players (or worse, their parents)? Who needs or wants that stress? There are too many other suppliers out there.
Will Nike go broke tomorrow? No. Nike is too big. Just like Dicks, it will take time for their idiocy to complete their destruction.
Look how long it is taking the zombie corporate husk of Sears/ Kmart to die.
What we have here is an out of touch leftist advertising pitching an “edgy” campaign to a bunch of out of touch leftist executives, all of whom have grown up in the out of touch east coast elite leftist bubble.
What will wind up happening is that they will just blame the flyover bitter clinger deplorables for being all racist and evil.
Now, had Nike been criticized for being too patriotic, they would have lines around the block to buy their stuff. That fact is going to register somewhere- probably because the out of touch leftist execs will woke their companies right into the ground, thus leaving the smart companies as the last ones standing.
Since I already stopped buying Nike products because Nike and Phil Knight were bad neighbors I can at least claim to be indirectly boycotting the NFL by cancelling cable, and thus all the ESPN channels. I also haven’t bought Levi’s in years.
Seems they have forgotten Michael Jordan’s response when he was asked why he wouldn’t say bad things about a Republican president: “Republicans buy shoes too.”