LeBron James Shares His Thoughts On Nike’s Stock Dip

Just yesterday Nike announced its Q3 earnings in an official statement. Sales for December, January, and February totalled a whopping $8.43 billion globally, which represented a 5% growth from 2016 Q3, but about $40 million less than expected amounts. This accounted for Nike’s stock falling 6% on Wall Street, but overall it’s a growth of 7% since the beginning of the year.

According to Cleveland.com, LeBron James’ says “At the end of the day if Nike hits the fan then we’re all in trouble. Everybody.” in response to Nike’s newly revealed sales and stock numbers.

The Cavaliers star, who signed an incredible lifetime deal with Nike that is worth in excess of $1 billion, is unquestionably Nike’s most important athlete. While sales of basketball shoes have declined heavily over the last couple of years, Nike president Trevor Edwards says the LeBron 14 sales showed strong early results. He also mentioned that December’s release of the Space Jams was Nike’s biggest sneaker release ever.

Nike vs Adidas vs UA stox in 2017.$ADDYY +23%$NKE +7%$UA -32% 😵https://t.co/lXGCK2yHh3 pic.twitter.com/HU8eSC7kE1

— Daniel Roberts (@readDanwrite) March 22, 2017