Nike Removes Boston Store Marathon Ad After Inclusion Backlash; Shares Slide 74%
Nike removed a bright red Boston store vinyl ad reading “Runners Welcome. Walkers Tolerated.” within 24 hours after widespread criticism for alienating run-walk participants. Shares have plunged 74% from 2021 peak to near-2014 lows, prompting multiple broker downgrades and concerns over intensifying competition from On and Hoka undermining recovery prospects.
1. Boston Marathon Ad Controversy
Nike debuted a red window vinyl on its Boston store stating “Runners Welcome. Walkers Tolerated.” but removed the display within 24 hours following widespread criticism that it demeaned run-walk marathon qualifiers, fueling debates over brand inclusivity strategies.
2. Share Price Decline and Market Concerns
Over the past year, Nike’s share price has fallen 74% from its 2021 high to levels last seen in 2014, triggering holds from HSBC and UBS and intensifying scrutiny over its competitive positioning against On and Hoka.