“It’s Gotta Be The Shoes”
27 years ago, Nike (NKE) had an iconic ad starring Michael “Air” Jordan and Spike Lee (as Mars Blackmon)
That was in 1989.
In 1983, Nike had revenues of less than $1 million.
This quarter, Nike had revenues of $8.2 billion.
That’s a big difference!
Signing Michael “Air” Jordan in 1984 changed Nike forever.
Michael Jordan made $480 million from Nike from 2002-2012.
In 2015, Jordan Nike sneaker sales were $3 billion.
Now the saying “It’s Gotta Be The Shoes” has another meaning.
Nike introduced the “self-tying” HyperAdapt sneakers in March.
The $720 shoes went on sale the 1st week of December.
They quickly sold out.
A pair is selling on Ebay (EBAY) for $10,000!
Nike was up 5% after-hours until the conference call when it disappointed investors with their future orders.
Nike is feeling competition from Adidas (ADDYY) and Under Armour (UAA)
A positive earnings from Nike could help the Dow hit 20K Wednesday December 21st.
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