Sponsors
Billabong ▲ +0.005 | PPR ▼ -3.15 | American Apparel ▲ +0.031 | The Buckle ▲ +0.68 | Columbia ▼ -0.40 | Deckers Outdoor ▲ +0.37 | Dicks ▲ +0.49 | Foot Locker ▲ +0.25 | Genesco ▲ +0.76 | Iconix Brand Group ▲ +0.39 | Jarden Corp ▼ -0.20 | Nordstrom ▲ +1.29 | Luxottica ▼ -0.78 | Nike ▲ +1.51 | Pacific Sunwear ▼ -0.09 | Skullcandy ▼ -0.12 | Sport Chalet ▲ +0.01 | Urban Outfitters ▲ +0.67 | VF Corp ▲ +0.94 | Quiksilver ▼ -0.05 | Zumiez ▲ +0.66 | Macys ▲ +1.01 | Tillys ▲ +0.08 |
Ticker Sponsor
Readers Say
I waited too long to sign up for Executive Edition
I waited too long to sign up for Executive Edition

I read Shop-Eat-Surf at every opportunity, and I waited too long to sign up for the Executive Edition. It’s timely, relevant and clearly “from the industry, for the industry.

- By Andy Laats, President, Nixon
It pertains to my business
It pertains to my business

I’m an avid reader of Shop-Eat-Surf because it’s really the only online newsletter that I have found that is not only industry related, but also because it’s not so “guy-centric.” I find that a lot of the information I read on the site pertains to my business (as a swimwear designer) and keeps me up to date on what other companies and other women in the industry in general are doing which is not only inspiring but also helps me gauge the future direction of my business as well.

I feel privileged to read the Executive Edition because I know I am getting insider industry information before it hits the mainstream media channels. And it’s always good to know what my friends are up to in the industry.

- By Monica Wise, Founder, L*Space
Industry Insight

SHACC: "Endless Summer" party this Friday.
KNOWSHOW: Complete list of exhibitor brands and mobile app available.
Details on Industry Insight.


Tiffany Montgomery
Print This Article

Hurley and Converse revenues log high-teens growth in quarter

By Tiffany Montgomery
December 18, 2008 6:41 AM

Nike Inc. executives said yesterday during an earnings conference call with analysts that revenues from its Hurley and Converse businesses experienced high-teens growth in the quarter ended Nov. 30.

A strong performance from Hurley and Converse offset weaker results from Cole Haan and Nike Golf, the other companies that Nike groups together in a category it calls "other."

Here are a few other interesting notes about Nike Inc. results:

- Overall, revenue for Nike Inc. grew 6 percent to $4.6 billion.

- Net income grew 9 percent to $391.0 million.

- At the end of the quarter, Nike had $2.7 billion in cash and $794 million in debt.

- Inventory was up 9 percent at the end of the quarter, higher than Nike would have liked.

- U.S. revenues declined 1 percent to $1.5 billion

- Revenue at Nike-owned stores grew 1 percent due to e-commerce and new store openings. Comps declined 20 percent.

- Europe revenue grew 6 percent to $1.3 billion, with 2 points of growth from currency. Business in Western Europe is tougher, while Nike had good growth in emerging markets.

- Asia-Pacific revenue grew 22 percent to $821.4 million, with five points of growth from currency. Revenue in China grew 27 percent and in Japan, 7 percent.

- Americas revenue grew 21 percent to $384.6 million, with two points of negative impact from currency.

- Nike is forecasting low to mid-single digit revenue growth in the second half.

 

 

 

 

 


Articles You Might Have Missed