Wolverine World Wide celebrates record year - footwearbiz: Leading sit

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Wolverine World Wide celebrates record year

02/02/2011
Footwear group Wolverine World Wide has reported record revenue for both the fourth quarter and full fiscal year for 2010. The group said this performance underscores “the broad strength and consumer appeal of the company’s portfolio of lifestyle brands”.

Reported revenue for the full year was a record at just less than $1.25 billion, an increase of 13.4% compared to 2009 when revenue was just over $1.1 billion.

The company said it anticipates continued growth across its portfolio of brands, which includes Hush Puppies, HYTEST, Merrell, Sebago Soft Style and Wolverine.

Commenting on the results, chief executive, Blake Krueger, said: “We are extremely pleased with the company’s exceptional financial performance in 2010. All four branded operating groups [ Outdoor, Wolverine, Heritage Brands and Hush Puppies] contributed to the year’s record results, and all geographic regions delivered double-digit revenue growth. The company's fourth quarter performance was also exceptional, and this momentum, coupled with a strong double-digit order backlog and enthusiastic responses to our 2011 product offerings, positions the company for an excellent 2011.”

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