The Dispatch
Share this post
Did Someone From Nike Say the Company Can Afford to Lose ‘MAGA Customers’?
thedispatch.com

Did Someone From Nike Say the Company Can Afford to Lose ‘MAGA Customers’?

No.

Alec Dent
Sep 9, 2020
16
9
Share this post
Did Someone From Nike Say the Company Can Afford to Lose ‘MAGA Customers’?
thedispatch.com

A quote purportedly from Nike has gone viral on social media.  The posts claim that Nike claims: “We're a $76 Billion dollar company that can afford to let go of all ‘Make America Great Again’ customers.”

There is no record of anyone associated with Nike ever making such a statement. What’s more, Nike isn’t a $76 billion company by any actual financial metric: according to the company’s 2020 fiscal year SEC filing, Nike’s revenue in the past year was $37.40 billion. (Nike’s fiscal year ended on May 31, 2020.) The $76 billion figure can be reached by adding Nike’s 2020 revenue to its assets ($31.34 billion) and total equity ($8.06 billion). However, revenue refers to the amount of money brought in before expenses and is not indicative of profits. In fiscal year 2020, selling and administrative expenses for Nike were $13.1 billion, and operating overhead expenses were $9.5 billion. All things considered, recent valuations of the company range from $34.8 billion to $32 billion to $39.1 billion. Despite the differences among the numbers, one thing is clear: Nike is not a $76 billion company and nobody affiliated with the company would have likely claimed it is. 

When asked if Nike had any record of the company or an employee making such a statement, a representative for Nike confirmed to The Dispatch Fact Check that “this is not a Nike quote.”

If you have a claim you would like to see us fact check, please send us an email at factcheck@thedispatch.com. If you would like to suggest a correction to this piece or any other Dispatch article, please email corrections@thedispatch.com.

Photograph by Michael Rehfeldt/Flickr.

9
Share this post
Did Someone From Nike Say the Company Can Afford to Lose ‘MAGA Customers’?
thedispatch.com
9 Comments

Create your profile

0 subscriptions will be displayed on your profile (edit)

Skip for now

Only Dispatch Members only can comment on this post

Already a paid subscriber? Sign in

Check your email

For your security, we need to re-authenticate you.

Click the link we sent to , or click here to sign in.

JMD
Sep 9, 2020

I'd be willing to bet a large amount of money that the people who share these memes have never bought any of the products they're so desperate to boycott.

Expand full comment
ReplyGive giftCollapse
3 replies
CynthiaW
Sep 10, 2020

The human psyche's appetite for this kind of thing is fascinating. People never change. Once someone has said Queen Joan is a witch, the accusation is always "out there," just like this garbage.

(For the record, that's Queen Joan "of Navarre," second wife of King Henry IV of England.)

Expand full comment
ReplyCollapse
1 reply
7 more comments…
TopNewCommunity

No posts

Ready for more?

© 2022 The Dispatch
Privacy ∙ Terms ∙ Collection notice
Publish on Substack Get the app
Substack is the home for great writing