While discussing its performance for the quarter, Nike provided unprecedented details on Cole Haan and Umbro, the two brands it wants to divest. They jointly reached sales of $797 million for the quarter, which was an increase of 7 percent.
However, the two brands jointly suffered a loss of $43 million before interest and tax, compared with a loss of $18 million for the same period last year. Neither of the brands will be included in the reports to be filed by Nike in the next quarters.
The Cole Haan brand alone reported sales of $535 for the year, an increase of 3 percent in constant currencies and in reported terms. Meanwhile, Umbro's sales reached $262 million for the year, which was a rise of 17 percent in dollars and 14 percent in constant currencies.
The details further revealed a sales jump of 10 percent to $726 million for Nike Golf in the year, amounting to an increase of 9 percent in constant currencies. Hurley's turnover slid by 2 percent to $248 million, which was a decline of 1 percent in constant currencies.
Goldman Sachs has received a mandate from Nike to find the best possible buyers for Umbro and Cole Haan. The adviser is said to be planning to send out its pitch books to interested parties in July.
