Wolverine celebrates “excellent start” to 2018 - footwearbiz: Leading

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Wolverine celebrates “excellent start” to 2018

11/05/2018
Footwear group Wolverine Worldwide achieved revenues of $534.1 million in the first quarter of 2018, which represents a decline of almost 10% compared to the same quarter last year. However, the company said its margins and earnings per share increased over the three-month period, resulting in what chief executive, Blake Krueger, called “a very strong first quarter and an excellent start to the year”.

Mr Blake said a restructuring exercise Wolverine has undergone is now “substantially complete” and that the group, whose brands include Merrell, Hush Puppies, Wolverine and Stride Rite, was now in a position “to harvest the benefits of our recent transformation initiatives”.

Among the changes the group has made is the decision to sell its footwear production facility in Big Rapids, Michigan, in October 2017.

Mr Krueger said on announcing the first-quarter results that Wolverine’s new operating model will focus on speed, innovation and growth and will be more profitable.


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