Nike Takes a Victory Lap
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Nike is a brand well known for its go-get-em branding and you-can-do-it attitude, and thanks to yet another winning quarterly earnings report, the nearly half century-old company is showing no signs of letting up. Reuters said on Tuesday that the company is "seeing no slowdown in demand" and margins are "strong." The never-ending economic troubles in the United States and the European debt crisis haven't hurt their global business. "During times of economic challenge, consumers will go to brands that they trust and can connect with," said Nike chief executive Mark Parker.
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Parker, who's worked at Nike since 1979, also said, "We have not seen the economy have a dramatic impact on the sales of our products, not just in the high end, but also in the mid-priced range." The gushy good press-friendly banter is interesting, because the company's just been so darn consistent about it. Nike was founded in 1964 as Blue Ribbon Sports -- a blue ribbon is what you get when you win -- and Nike is the Greek goddess of victory. The company's latest ad exudes the same triumphant message: Winning, among many other things, is what counts.
