Wolverine Worldwide predicts Q2 sales above 2019 levels
Outdoor apparel and footwear group Wolverine World Wide, Inc. (Wolverine Worldwide) has announced that, having noted an acceleration in its performance, it now expects its second-quarter sales to exceed the figures achieved by the company in the same period two years ago, before the impact of the Covid-19 pandemic, when the group reported $568.6 million in revenue.
According to the Rockford, Michigan-based company, growth in the second quarter to date has been driven by its largest brands, which include Wolverine, Merrell, Saucony and Sperry, as well as by “compelling product innovation.”
“The company continues to see strong momentum and better-than-expected trends across nearly all brands in the portfolio, with Merrell, Saucony and Sperry leading the way,” said Wolverine Worldwide chairman and CEO Blake W. Krueger in a release.
“Our strong order book has continued to improve since the end of the first quarter, including nice gains in our international business,” explained the executive. “As such, we now expect second quarter 2021 revenue will exceed 2019 levels, and we are reiterating confidence in our latest full-year revenue outlook of $2,240 million to $2,300 million.”
In the first quarter of this year, Wolverine Worldwide reported revenue of $510.7 million, up 16.3% compared to the prior-year period, while net earnings were $38.5 million, or $0.45 per diluted share, up from $13.0 million, or $0.16 per diluted share, a year ago.
The company recently announced important changes to its leadership team, with Isabel Soriano taking over as president of international, while Katherine Cousins joined the group as president of the Sperry brand.
Copyright © 2023 FashionNetwork.com All rights reserved.