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Industry Insight

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Tiffany Montgomery
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Converse, Hurley strong for Nike

By Tiffany Montgomery
March 19, 2009 6:00 AM

Nike executives discussed the performance of Hurley and Converse Wednesday in the company's earnings conference call for the quarter ended Feb. 28.

Nike CEO Mark Parker said Converse led the way with revenues growing 33 percent in the quarter. Converse's "One Star" line performed particularly well.

Hurley continues to "outperform the competition and pick up share in a tough action sports market," he said.

Companies in the group that Nike calls "other" also include upscale shoe maker Cole Haan and Nike Golf, which didn't fare as well as consumers cut back on luxuries, Parker said.

Overall, Nike's revenues fell 2 percent to $4.4 billion. In constant currency, revenues grew 2 percent.

Net income fell 47 percent to $243.8 million, including a charge related to its Umbro subsidiary. Excluding the charge, net income rose 4 percent to $484.5 million. 


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