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Nike Slides as 'Just Do It' Campaign Fails to Boost Full-Year Earnings Estimates

Martin Baccardax

shares fell to the bottom of the Dow Jones Industrial Average Wednesday after the world's biggest sportswear maker held onto it full-year earnings targets despite the expected support of a controversial ad campaign featuring former NFL quarterback Colin Kaepernick. Nike said earnings for the three months ending in August, its fiscal first quarter, came in at 67 cents a share, topping the consensus forecast of 63 cents and rising 17.5% from the same period last year. "We're motivated to inspire our consumer to connect and engage and inspire," CEO Mark Parker told investors on a conference call late Tuesday.