Fox News Host Gives Nike Some Advice After Brutal Stock Crash

Nike’s stock is taking a beating on Friday, one day after the sportswear giant shared an ugly earnings report in which it missed Wall Street’s sales estimates and projected revenue will decline heading into 2027.

If the company wants to turn things around before completely crashing and burning, Fox and Friends co-host Lawrence Jones offered a simple solution: “Maybe they should just start loving America again.”

That came right after co-host Brian Kilmeade pointed out critics have said Nike’s demise is due largely to the “woke stunts” the company has pulled over the last decade; Critics have said those moves include making Colin Kaepernick a prominent pitchman, canceling production of a “Betsy Ross Flag” shoe in 2019, and partnering with trans influencer Dylan Mulvaney.

It’s an argument Sen. Ted Cruz (R-TX) made recently, with the Texas conservative claiming the brand’s marketing campaign was built on “America-hate.” He said Nike’s backing of Kaepernick “pissed” him off, but the final straw for him was the flag shoe getting canceled; he said he hasn’t bought Nike shoes or apparel since.

Fox Business Network reporter Grady Trimble came on Fox & Friends to share more details on Nike’s limp earnings report, which coincided with the company’s share price dropping 5.50% in early trading.

Trimble reported sales were down 4% last quarter to $11.2 billion, and that Nike’s sales in China dropped 26% year-over-year. One bright spot from the report, he said: WNBA star Caitlin Clark’s new signature sneaker is selling like hot cakes. He added critics believe Nike should “refocus on its athletic roots, [and] maybe stay out of politics.”

And beyond the “go woke go broke” claims, business analysts have said Nike whiffed with its pivot to direct-to-consumer sales instead of leaning on Foot Locker and other stores. And sneakerheads have griped about Nike flooding the market with retro shoes and not enough new designs — a complaint which CEO Elliot Hill acknowledged on the Thursday earnings call.

Nike’s stock is trading for $33.21 on Friday, down 80% from $169 per share in December 2021.

Watch above.

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