Converse widened its gap over the other brands in the Nike, Inc. subsidiary portfolio for the fiscal year ended May 31 and looks to be poised to reach the billion dollar mark in the current year. Converse posted a 12.6% increase in revenues for the fiscal 2009 year, reaching $915.3 million for the year. The details were outlined in the Nike, Inc. form 10-K filed with the SEC. Converse fiscal 2008 revenues amounted to $729.0 million.
Nike, Inc. acquired Converse in 2003 in a deal worth $305 million. Converse reported full year revenues of $205 million in the year ended Dec. 31, 2002.
Nike Golf lost ground in the market in the last fiscal year, posting a 10.6% decrease in revenues for the year to $648.3 million, down from $725.2 million in the prior-year period. Cole Haan also posted a decline for the year, with revenues dipping 5.0% to $471.6 million from $496.2 million in fiscal 2008.
Hurley revenues jumped 18.6% to $202.9 million for the year from $171.1 million in the prior year, while Umbro posted $174.0 million in revenues under the NKE umbrella for the year versus just $53.9 million for the brand for the three months ended May 31, 2008. Nike, Inc. acquired Umbro in March 2008 for approximately $576.4 million.
The overall NKE subsidiary business dipped under 1% for the year, due primarily to the divestiture of Nike Bauer Hockey and Starter.
The U.S. represented 42% of total Nike, Inc. revenues, including the subsidiary businesses, compared to 43% of total NKE revenues in the prior year. As for key accounts, Foot Locker, Inc. represented 9% of total consolidated revenues in fiscal 2009-flat to the prior year-but down from the 10% of consolidated revenues in 2007.
Futures orders represented 89% of footwear shipments in fiscal 2009, compared to 90% of footwear shipments in the prior year. On the apparel side, 60% of shipments were driven by futures, compared to 62% of apparel shipments in fiscal 2008.
