Wolverine reports record results for Q1 following acquisitions
18/04/2013
This marks the first reporting of a full quarter’s results since Wolverine completed the acquisition of the Sperry Top-Sider, Saucony, Stride Rite, and Keds brands from Collective Brands in October 2012.
Revenue for the quarter was a record $645.9 million, growth of 100.1% compared to the same period in 2012. Key contributors were Sperry Top-Sider, Merrell, and Saucony.
“We are exceptionally pleased to be off to such a strong start in 2013, particularly as this represents the first full fiscal quarter that includes our four new lifestyle brands,” said Blake Krueger, Wolverine Worldwide chief executive, on announcing the results. “As we anticipated, the addition of Sperry Top-Sider, Saucony, Stride Rite, and Keds has made our brand offerings even stronger, and we are already seeing very positive reactions to the broader portfolio from key retail and global distributor partners.”
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