Nike Reportedly Exploring Hurley Sale
The Eager Beavertons are said to be exploring strategic options for the surfwear brand, including a possible divestiture. They bought the brand in 2002 when they had sales of $9.5 billion and Hurley was about $70 million. Today, Nike has sales of $37.2 billion and Hurley had sales estimated at $250 million, so it is today even less relevant to the E.B.s’ top and bottom lines than when it was acquired but at both ends of the relationship was less than 1% of sales.
Chief E.B. Mark Parker has long focused all his attention on the Nike and Jordan brands, but ... Log in to view full article.