Nike Remains God of all Sportswear
For more than 50 years, Nike has been the spotlight of athletic wear and shoes throughout the world. The start of its incedibly lucrative business began with the creation of the Air Jordans. This Michael Jordan shoe line sold through the roof, and began a new era of sponsorship and style of dress world wide. Nike as a company “took off” and erupted into a premier clothing brand. as the years went on more and more star athletes like LeBron James, Kobe Bryant, Derek Jeter, all began to sign record breaking contracts with Nike. The most famous of course was the life time endorsement deal Nike did with LeBron James in 2015. Since then Nike has been an incredible public business, it’s traded on the New York Stock Exchange (NKE) and has done impressivly well in US markets. According to Sports Business Daily, a sports magazine that discusses the ins and outs of the business of sport, “Nike yesterday “ handily beat analysts’ expectations ,” as the company’s total sales jumped 6% to $8.2B and its Q2 earnings increased 7% to $842M, 50 cents a share, according to Jeff Manning of the Portland OREGONIAN.