Yesterday I used an incorrect chart in my item about Nike and Under Armour. Lots of you wrote in to point out the error (some were more polite than others).
- First, I want to apologize for the error. There was a miscommunication between me and our visuals team and that resulted in us charting Nike at 7% gain since November 2005 when — as the above chart correctly shows — the gain has been more than 770%.
- Second, I want to thank everyone who spotted the error and took time out of their day to bring it to my attention (even if you were very rude...you know who you are; but still, thank you for correcting my mistake).
- Third, I want to promise that I'll be much more careful with these charts in the future. I want all of our readers to know that what you read in Axios Markets is top-tier information you can take to the bank. I let you all down yesterday and it won't happen again
Real news: Nike's stock had a rough outing on Wednesday but has been a strong performer over the past few years as direct-to-consumer and e-commerce sales, growth in China and merchandising boons from big names like LeBron James and Colin Kaepernick have helped power the brand's stock to fresh all-time highs.
- That has helped Nike's stock surpass Under Armour, which had looked to be the future of athletic wear, in recent years despite ongoing controversies involving Nike's top brass.