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