Viral social media posts claim that Nike has reported $790 million in losses in its most recent quarterly report and has had to lay off staff as a result. The posts suggest that these losses are as a result of the company’s political stances, particularly giving Colin Kaepernick an endorsement.
Nike’s most recent quarterly report was released in March and actually shows the company reported a revenue increase of 3 percent from the previous year.
Alec Dent is a former culture editor and staff writer for The Dispatch.
