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Nike Stocks Hit an All-Time High Despite 'Culture' Controversy

Date: May 23 2018

By: Boon Mark Souphanh

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They’re struggling on the corporate culture front, but Nike are still making money moves. With sales seemingly unaffected, the company’s shares (NYSE: NKE) recently hit a record $71.70 before ending the day at $71.38.

Bloomberg reports that Nike's stocks were boosted off the back of a strong first-quarter earnings report from department store Macy’s.

Nike’s CEO Mark Parker recently held an internal meeting to apologise for a problematic corporate culture that marginalised women and minorities working at the company. 

Despite all this, Nike’s stock is up 7 per cent overall since March. 

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