Nike to sell Umbro, Cole Haan

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Thursday, May 31, 2012

Nike is selling two of its brands, Umbro soccer gear and Cole Haan shoes and accessories, to cut costs.

The company says more potential lies in its Nike products along with its Jordan, Converse and Hurley brands, which it says have "unique consumer relationships" that complement the Nike brand.

"Divesting of Umbro and Cole Haan will allow us to focus our resources on the highest-potential opportunities for Nike, Inc., to continue to drive sustainable, profitable growth for our shareholders," said CEO Mark Parker.

Read more at The Statesman Journal.

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