In the New York Times today was a one-column by three inch story about Nike earnings. They are up 51% for the quarter. To be exact, Nike reported “a 51% increase in fiscal first-quarter net income on Thursday, helped by higher revenue and future orders as sell as favorable currency exchange rates.” Did I mention the item was buried at the bottom of the page? FedEx’s revenue for the quarter was up 8% and their story was an 1/8th of a page — with a picture.
If my company revenue was up 51%, I would be shouting it from the tops of buildings, yet Nike seems almost apologetic. Is it possible that they let the news release out at the 11th hours after the paper forms closed down?
I’m thinking Nike is amazingly embarrassed that they are raking in the cash on the backs of foreign labor which pays a dollar a day. Shhh. Quiet.