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4-Traders Homepage  >  Equities  >  Nyse  >  Nike Inc    NKE

NIKE INC (NKE)

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58 USD   -1.07%
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NIKE, Inc. : CONVERSE OPENS ITS FIRST MALL-BASED RETAIL STORE IN NEW JERSEY

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05/04/2012 | 12:29pm CEST

May 04, 2012

Opening on Saturday, May 5, 2012, the new Converse retail space celebrates the brand's creative spirit and continues nationwide store expansion.

NORTH ANDOVER, Mass. (May 4, 2012) - Today, CONVERSE Inc. announces the opening of its first mall-based location in Westfield Garden State Plaza, the brand's fourth inline retail location in the United States, and New Jersey's largest. Celebrating the global brand's creative spirit, the newest Converse store location proudly highlights its diverse product offerings and brings its pioneering spirit and innovation in style and self-expression to life.

The Westfield Garden State Plaza mall location will open to the public on Saturday, May 5 and debut a 4,500 square foot store design that evokes the sport and rock 'n roll heritage of Converse. The store will feature a Converse Customization "Ink Bar", where customers will have an opportunity to showcase their creative spirit and design one-of-a-kind footwear, apparel and accessories.

"We are excited to open our very first mall-based platform in Westfield Garden State Plaza, and the largest in New Jersey," said Jim Calhoun, President and Chief Executive Officer, Converse.  "Converse hopes to give consumers an opportunity to spark creativity with our Converse Customization in-store programming.  We look forward to sharing the Converse spirit of originality and innovation with the New Jersey community."

The Converse Customization Experience
The Westfield Garden State Plaza location takes the interactive retail experience beyond traditional screen-printing, and offers the ultimate in personal expression. At the Converse Customization "Ink Bar" located in the center of the store, shoppers are able to create their own styles of footwear, apparel and accessories by using over 200 graphics and designs. Customers will also have the ability to customize the details of Converse bags, t-shirts, and hoodies by adding grommets and drawstrings, and modifying the piece to suit their individual style. Customization Maestros are available to help guide through the creative process, providing a uniquely collaborative experience that results in a one-of-a-kind Converse item. 

Expansive Converse Product Offering
The Westfield Garden State Plaza location offers a premium shopping experience with the broadest assortment of Converse footwear, apparel and accessories for men, women and children available at a mall. These select Converse offerings include Jack Purcell, Converse by John Varvatos and Converse First String, Converse's limited-edition collection that celebrates craftsmanship, authenticity and collaboration at the highest level. The store location will also offer exclusive local New Jersey-inspired tee shirts. 

www.converse.com for more details.

About Converse
Converse Inc., based in N. Andover, Massachusetts, is a wholly owned subsidiary of NIKE, Inc. Established in 1908, the Converse brand has built a reputation as "America's Original Sports Company"™ and has been associated with a rich heritage of legendary shoes such as the Chuck Taylor® All Star® shoe, the Jack Purcell® shoe and the One Star® shoe. Today, Converse offers a diverse portfolio including lifestyle men's, women's and children's footwear, apparel and accessories. Converse product is sold globally by retailers in over 160 countries and through 63 company-owned retail locations in the U.S.www.converse.com.

# # #

Press Contacts:

Lacy Pica
Converse
646.563.7830 / lacy.pica@converse.com

Christina McDonald
HL Group
212.529.5533 / cmcdonald@hlgrp.com

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Financials ($)
Sales 2017 35 050 M
EBIT 2017 5 010 M
Net income 2017 4 080 M
Finance 2017 2 324 M
Yield 2017 1,19%
P/E ratio 2017 24,27
P/E ratio 2018 21,13
EV / Sales 2017 2,71x
EV / Sales 2018 2,49x
Capitalization 97 319 M
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Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 65,8 $
Spread / Average Target 13%
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NameTitle
Mark G. Parker Chairman, President & Chief Executive Officer
Eric D. Sprunk Chief Operating Officer
Andrew Campion Chief Financial Officer & Executive Vice President
Philip Hampson Knight Chairman-Emeritus
Alan B. Graf Independent Director
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