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BREAKING NEWS FROM CNBC’S KAYLA TAUSCHE: NIKE HIRES GOLDMAN SACHS FOR UMBRO, COLE HAAN SALE - SOURCES

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KAYLA TAUSCHE: MARIA SOURCED TELL ME THAT NIKE HAS HIRED GOLDMAN SACHS TO LEAD AUCTIONS OF BRANDS COLE HAAN AND UMBRO THE COMPANY ANNOUNCED YESTERDAY THAT IT PLANS TO DIVEST I AM TOLD THIS SALE WOULD LIKELY CATER TO PRIVATE EQUITIES FIRMS WHICH WE KNOW OFTEN CIRCLE THE RETAIL SECTOR FOR NEW DEALS UMBRO WHICH HAS BEEN LOSING MONEY FOR NIKE WILL LIKELY REQUIRE A TURNAROUND EXPERT BUT COLE HAAN I AM TOLD COULD FETCH THE EQUIVALENT OF ITS REVENUES IN A DEAL WHICH LAST YEAR WERE JUST A LITTLE BIT OVER A HALF A BILLION DOLLARS BUT THAT BEING SAID THE COMPANY COULD STILL SELL THE BRANDS SEPARATELY OR IN A PACKAGE DEAL THE AUCTION IS YET TO KICK OFF SO WE WILL SEE WHAT THAT INTEREST LOOKS LIKE BUT WITH THE ANNOUNCEMENT YESTERDAY THEY COULD RESERVE THE RIGHT TO LIST THE BRANDS SEPARATELY IF AN M&A DEAL DOES NOT MATERIALIZE.

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