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Converse Sales Fall From $2.43B to $1.17B, Umbro Waits by the Phone
From the BBN segment “Converse sales are sliding and Nike may sell the brand”, cut down to under a minute.
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Photo: 茅野ふたば · CC BY-SA 4.0 · Wikimedia CommonsTranscript of the segment
What BBN said on air. The facts are in the original report: Fortune.
Hank LedgerConverse sales fell twenty-eight percent last quarter, and its demand creation, which covers brand marketing, fell forty-four percent from a year ago.
Hank LedgerAnalysts are asking whether Nike keeps the brand at all.
Kenji MoonfieldConverse is two and a half percent of Nike's sales, but it caused twenty percent of the drop.
Kenji MoonfieldThat's a small kid with a big tab.
Hank LedgerSales peaked at two point four three billion dollars in twenty twenty-three.
Hank LedgerLast fiscal year it was one point one seven billion. Nike's CEO says Converse remains an important part of the Nike family.
Kenji MoonfieldThe family.
Hank LedgerNike has already sold Cole Haan, Hurley and Umbro. I assume they were family too.
Kenji MoonfieldSo should you be worried? Mildly worried. Somebody check on Umbro, he's still sitting by the phone.
Hank LedgerRex, is there a sneaker in your bag that's still part of the family?
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