Nike's Mark Parker says Colin Kaepernick ad leads to record engagement with brand

Nike CEO Mark Parker on Tuesday said the company's use of Colin Kaepernick in the brand's recent "Just Do It" spots has resulted in "record engagement with the brand."

"We feel very good and are very proud of the work we've been doing," Parker said, speaking on the company's quarterly earnings call. "We know it's resonating quite strongly with consumers here in North America and around the world."

Nike announced on the earnings call that its revenue over the past three months, a period which ran until Aug. 31, was up 9 percent to $9.9 billion. The last day included was days before the first Kaepernick spots appeared.

Since the Kaepernick ads ran, Nike's stock has risen 6.25 percent, adding $6.38 billion to the company's value, though it's obviously inconclusive how much of that, if any, is due to Kaepernick. Nike stock, after earnings were announced, fell more than 4 percent after hours.

At least three analysts this month have raised the target price on Nike's stock.

Last week, Beth Comstock, a director on the Nike board, said on CNBC that she and others were informed of Nike's decision to use the football player-turned-activist, but that neither she nor others on the board had veto power over the campaign. The ad would proceed.

The first ad, a digital ad that appeared on social media and on select billboards, debuted on Labor Day afternoon, Sept. 2. A larger "Just Do It" spot with Kaepernick's voice aired three days later.

Nike, the official apparel sponsor of the NFL, did not notify league officials that the ads would appear. Kaepernick currently is suing the league's owners for collusion, alleging that there was some conspiring between parties to keep him out of the league following his kneeling during the national anthem in the 2016 season.