Nike is not a typical Public company. As reported in "Shoe Dog", PHK wanted the access to Public listing, but did not want to ever lose control of what he had built.
There are two Classes of Stock, A and B. At the end of the day, only the Class A counts, as it can control the composition of the Board, and in combination with the Knight Family ownership of Class B shares, Swoosh LLC, the GRATS, the company belongs to PHK.
Th B shares pay a dividend, the famous quote, pun intended, to achieve 50 Billion in sales, provided an opportunity. Since his retirement in 2015, the B shares had a great ride, thank you J Ridge.
Now, well the Macro infusion of capital for the last 30 years, is coming to an end. PHK spoke of this reality in 2011, when he attempted to tell his beloved State that it was bankrupt and unable to cover it's Pension obligation. The current environment is not a surprise to PHK, he is ready for it.
So with MP back from Disneyland, a Nike Hand at the wheel, the start of this next race is well understood across the industry, Footwear and Apparel, Nike is Financially bolstered, and flexible in Supply Chain options.
And it is still NIKE.
But the reason why today, Just Does Not Matter, because PHK...still HATES TO LOSE.
If he is still in the game, I would take that bet.
Buffet says when the tide goes out ....you see who is na--d. All the rest of the industry is about to be exposed.....Nike will be standing in shallow water, shoes, shorts.....and a singlet that Reads STOP PRE.
It Just Does Not Matter.