We kind of laugh when we see that Nike lumps Hurley and Converse under the header “Other Businesses” along with Cole Haan, Nike Golf and Umbro when it releases financial reports. But either way, while profits at the mother ship declined 47 percent it looks like the “other businesses” survived the storm.
For the third quarter, revenue for the Other businesses, which include Cole Haan, Converse Inc., Hurley International LLC, NIKE Golf, and Umbro Ltd, increased 1 percent to $592.2 million compared to $587.4 million last year with the group posting a third quarter pre-tax loss of $344.1 million versus pretax income of $106.1 million for the same period last year.
None of this is really comparable though because they didn’t have the same “other businesses” last year that they have now. How’s that for insights into the business. Apparently, someone in the “other businesses” is doing just fine. We’ll assume for entertainment sake that it’s Hurley. Good job, Bob.
[Link: MarketWatch]
