Oh man these are great1
Nike Doing Just Fine
By Kickntrue on 3/19/10
Nike released their earnings yesterday and wants the world to know despite the Tiger scandal they're doing just fine.
If you thought that loyalty might hurt Nike, think again. The company reported Wednesday evening that its third-quarter revenues were up 7% and that it earned $4.73 billion of revenue.But wait... here comes the good part.
Nike doesn't break out the performance of the Nike Golf division on its balance sheet. Instead it is included in "Other Businesses," which includes Nike Golf, Cole Haan, Converse Inc., Hurley International LLC, and Umbro Ltd. That group's performance increased 13% to $656 million for the quarter.Wow... that must make it really hard on the corporate accountants to deal with the balance sheet. How nice would it be to be so big that you can lump your biggest endorsers sport in with Converse, Hurley and Umbro (who even knew they owned all that)?
BTW- do you guys remember how awesome it was to wear Umbros 20 years ago? My mom would always buy me the cheap kind without the double diamond logo and I'd be so embarrassed. It pretty much single-handedly forced me to quit soccer. Now I'm a fat golfer. Thanks a lot mom!
[ comments ]
Putting accounting and Tiger in the same article killed the comments. LOL
[ post comment ]