Stride Rite store closures to follow record Q2 revenues for Wolverine
16/07/2014
Revenue increased year on year by 4.4% to $613.5 million, a record for the quarter.
On announcing the results, chief executive Blake Krueger, said: “We are extremely pleased to deliver a record quarter in what continues to be a volatile global retail environment, particularly in the US.”
In the face of this volatility and to accelerate its growth, Wolverine has announced that it will close approximately 140 retail locations, primarily among its Stride Rite stores, over the next 18 months.
The company expects to close around 60 of these stores by the end of this year, with the balance closing by the end of 2015.
Image courtesy of Wikipedia/Joe Phelan.
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