Double-digit gains for Wolverine’s Merrell brand
Michigan-based footwear group Wolverine World Wide, Inc. revenue climbed 3.8% in the third quarter. Revenue for the quarter was $310.2 million compared with $298.9 million in the third quarter of 2006, driven by double digit growth in revenues for its Merrell brand. Net earnings totalled $29.5 million, up from $26.1 million in the prior-year period.
For the first nine months of 2007, revenues were $841.5 million compared with $800.2 million in the corresponding period last year, while net earnings reached $67.3 million, up from $60 million.
The company’s revenue for 2008 is expected to be between $1.245 and $1.275 billion.