Nike launched a huge ad campaign with Colin Kaepernick recently. Just before this campaign was launched, Nike considered dumping Kaepernick from their roster of sponsored athletes.
The company is under fire for featuring Kaepernick, who is no longer on an NFL roster, who happens to be the first NFL player to kneel during the national anthem. Kapernick was featured for the campaign on the 30th anniversary of the "Just do it" slogan. CEO Mark Parker has stated the publicity has helped Nike. During an earnings call, Parker told analysts the company saw “a real uptick in traffic and engagement, both socially and commercially."
Per Fox Business:
Nike reportedly came close to severing ties with Kaepernick amid backlash from some NFL fans over national anthem protests that spread across the league last season. In 2017, Nike officials debated whether to drop the former San Francisco 49ers quarterback, the Times report said, citing two sources with knowledge of the discussions.
A top communications executive at the Beaverton, Oregon-based company persuaded colleagues to instead keep Kaepernick on board, fearing negative publicity that could follow if Nike cut him, according to the report.
Nike's stock has been on the rise for sometime and it appears they simply doubled down on their base while dumping a demographic, conservatives, that will eventually catch up with them.
What's funny is Nike is actually by benefiting by pretending to be social justice fighters. This is a company who actually employs people in sweatshops to make their sneakers in factories overseas.