Nike Just Hit a Record High

Despite Nike making headlines in recent weeks over a misconduct scandal and top executives leaving the company, the stock saw a climb of 2.7% on Wednesday to hit a new record high of $71.35. This is the highest the stock has ever traded since it went public back in 1980.

Shares of Nike sailed higher after retail apparel company Macy’s lifted the retail and apparel industry after reporting its first quarter financial report. The department store chain’s first quarter sales had topped estimates and the company had also raised its profit guidance for the full year.

It was back im march that Nike had ousted its president of the Nike Brand, Trevor Edwards and replaced him with CEO Mark Parker. Several other top executives have also left the sport apparel company.

Disclaimer: We have no position in Nike Inc. (NYSE: NKE) and have not been compensated for this article.