Sponsors
Billabong ▲ +0.002 | PPR ▲ +1.55 | American Apparel ▲ +0.001 | The Buckle ▲ +0.41 | Columbia ▲ +0.28 | Deckers Outdoor ▼ -0.79 | Dicks ▲ +1.05 | Foot Locker ▲ +0.17 | Genesco ▼ -0.28 | Iconix Brand Group ▼ -0.09 | Jarden Corp ▼ -0.89 | Nordstrom ▲ +1.07 | Luxottica ▼ -0.09 | Nike ▼ -0.25 | Pacific Sunwear ▼ -0.02 | Skullcandy ▼ -0.35 | Sport Chalet ▼ -0.05 | Urban Outfitters ▲ +0.07 | VF Corp ▲ +0.52 | Quiksilver ▼ -0.15 | Zumiez ▼ -0.03 | Macys ▲ +0.60 | Tillys ▼ -0.16 |
Ticker Sponsor
Readers Say
Keeps me in the loop
Keeps me in the loop

Being an Executive Edition member allows me to not miss a beat when it comes to the Industry business news. Definitely keeps me in the loop plus goes great with my morning joe.

- By Tony Perez, Surfer and Surfing magazines
Useful on a daily basis
Useful on a daily basis

It's well balanced information that is useful on a daily basis. I'm very satisfied with the Executive Edition. I start each day with SES and a big cup of coffee!

- By Tom Ruiz, EVP Sales, Volcom
New Industry Insight

Shorebreak Hotel as a venue for industry events. Cinematographer Louie Schwartzberg's "Moving Art Retreat" in June at Turtle Bay Resort. Details on Industry Insight.


Tiffany Montgomery
Print This Article

Converse, Hurley buck economy to deliver strong results, Nike says

Mark Weber of Hurley, Nike CEO
Mark Weber of Hurley, Nike CEO Mark Parker, and Chance King of Hurley
By Tiffany Montgomery
June 24, 2009 3:04 PM

Despite the tough economy, Converse and Hurley posted strong revenue and profit results for the year ended May 31, Nike executives said this afternoon during an earnings conference call.

Converse revenue grew 26 percent to $915 million.

Nike CFO Don Blair said Converse continues to be the strongest performer in Nike's "other" category that also includes Hurley, Cole Haan and Nike Golf. Most of Converse's business is through licenses and distributors. Measured on a wholesale basis, Converse has $2 billion of revenue worldwide, he said.

Hurley also posted strong results for the year ended May 31, with revenues increasing 19 percent to more than $200 million. Both Hurley and Converse recorded double-digit growth in pretax income for the year.

"Converse and Hurley continue to outperform the market and are picking up share and building brand strength," Nike CEO Mark Parker said.

Parker also said he recently reviewed Converse product in the pipeline and said it's "incredibly strong and diverse" and "our most commercially-potent product ever created."

Nike brand President Charlie Denson said Nike's action sports category, the company's "newest key category," recorded "significant" double digit growth for the year.

For more insight into Hurley's resurgence, see my interview with Bob Hurley and CEO Roger Wyett that posted Monday.

 


Articles You Might Have Missed