CEO says Wolverine has ‘turned the page’
Footwear group Wolverine Worldwide has reported full-year revenues of $1.75 billion for 2024. This represents a decline of 21.8% compared the figures for 2023, but the group has pointed out that the comparison is skewed by recent sales of some parts of its business.
Wolverine sold its Keds brand in February 2023, the US part of its leathers business in August 2023, the non-US part of the leathers business in December 2023, and the Sperry brand in January 2024.
It pointed to a narrower gap between the two years, taking into account fourth-quarter results in isolation. In the last quarter of 2024, its revenues were just under $495 million, down by 6.1% year on year.
Chief executive, Chris Hufnagel, said: “As we begin 2025, our brands are poised to continue to build on our momentum, standing on a much healthier foundation, with stronger product pipelines and compelling storytelling. Our team is encouraged by the work we’ve accomplished together and excited to turn the page.”
