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Saturday - May 18, 2013

Friday - May 17, 2013

Thursday - May 16, 2013

Nike Inc., the world's largest athletic-shoe maker, agreed to sell its Cole Haan fashion brand to private-equity firm Apax Partners for $570 million as it focuses on faster-growing businesses.

The transaction is expected to be completed in early 2013, Beaverton, Ore.-based Nike said Friday.

The company bought Cole Haan in 1988 for $95 million, including debt. After a year of ownership, the division had sales of $87 million.

In the fiscal year ended May 31, Cole Haan increased revenue 2.7 percent to $535 million. That made up 2.2 percent of Nike's $24.1 billion in total sales. The unit had 178 stores, including 109 in the U.S.

1. Americans fail to find jobs as firms hire foreigners
2. PPG Corning bankruptcy plan receives preliminary approval
3. Auto safety advances through the decades
4. Federal regulators say Consol can reopen fire-stricken mine
5. West Penn Allegheny Health System top earner: CEO who left
6. Pa. jobless rate declines as fewer look for work
7. Automated teller machine fees up 20 percent in 5 years
8. Taco Bell offers Waffle Taco
9. As yen falls, so does cost of products from Japan
10. Graduates hope for pomp and jobs
11. UPMC chief’s bonus, salary down

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