Record revenue at Wolverine
Wolverine World Wide Inc. has reported record sales and earnings for the year ended January 3. Revenues for the year totalled $1.22 billion, a 1.8% increase over prior-year revenue of $1.2 billion. According to CEO and president, Blake Krueger, the outdoor group and the heritage brands group were the two most significant contributors to the company's profit improvement for the full year.
However, fourth-quarter revenues fell 3.2% to $346.1 million compared with $357.4 million in same period the previous year. The company expects more challenging trading conditions and comparisons in the first half of this year, especially considering the impact of the stronger US dollar. As a result, it is currently projecting 2009 revenue in the range of $1.16 billion to $1.24 billion.
