ROTH CAPITAL PARTNERS: Hosting 27th Growth Stock Conference March 8-11 in Dana Point, Calif.
Details on Industry Insight.
According to a transcript of Nike's conference call, the company has taken a hard look at the other brands besides Nike it owns over the past nine to 12 months and are still in the middle of that process. Basically, executives want to focus on the companies that have the most potential for longer term growth.
Nike CEO Mark Parker said the company is investing in existing businesses like Hurley, Nike Golf, Cole Haan and Converse because it believes those companies can grow even more. Nike is also looking for new businesses to add to the portfolio, including building companies organically or buying them. In some cases, Parker, said, Nike is reallocating resources to optimize growth potential.
Here's a link to the transcript.