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$NKE - Nike Decides to Just Not Do It #stockstowatch #stockmarket

This week, Nike (-0.53%) nixed plans for a shoe featuring the 13-star “Betsy Ross” American flag. Thirteen original colonies, endless hot takes.
Nike’s view: “Nike has chosen not to release the Air Max 1 Quick Strike Fourth of July as it featured the old version of the American flag,” a spokeswoman said. Lucky for you, we speak PR. 
  • Nike decided to pull the shoe after former NFL star/current activist and Nike endorser Colin Kaepernick told the company he and others felt the shoe evoked a symbol connected to an era of slavery, per the WSJ.
Arizona Gov. Doug Ducey (R): “Words cannot express my disappointment at this terrible decision.” We also speak Arizona governor. 
  • Nike plans to open a $185 million, 500-plus-employee manufacturing plant outside Phoenix. On Monday, local lawmakers approved an incentive package for Nike’s facility plans.
  • But now, Ducey says he ordered officials to withdraw all financial incentives. Nike stands to lose a discretionary grant of as much as $1 million.
+ Want more info on how Nike’s decision fits into the retail landscape?Retail Brew writer Halie LeSavage will have more this afternoon. Add Retail Brew to your inbox with one click.

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