×
40 388
Fashion Jobs
AVEDA
Aveda Advisor - 15 Hrs - Shops at Columbus Circle - New York,ny
Permanent · New York
SHOW MY LINE
Women's Luxury Ready-tO-Wear Production Manager
Permanent · NEW YORK
ESTÉE LAUDER COMPANIES
Latam E-Commerce Project Manager/Product Owner
Permanent · New York
MICHAEL KORS RETAIL INC
Sales Supervisor, Crabtree Valley, Raleigh nc
Permanent · Raleigh
GAP
General Manager - Lenox Square (Kids & Baby)
Permanent · Atlanta
GAP
General Manager - Northbrook Court
Permanent · Northbrook
GAP
General Manager- Stonebriar Mall
Permanent · Frisco
GAP
General Manager - Roseville Galleria
Permanent · Roseville
GAP
General Manager - Central Texas Marketplace
Permanent · Waco
GAP
Merchandise Planner - Boys - Outlet
Permanent · New York
GAP
Unassigned General Manager - Greater Nashville
Permanent · Nashville
ALICE AND OLIVIA
Sales Supervisor - Cabazon Outlet
Permanent · Cabazon
TARGET CORPORATION
Owned Brand Product Design Director, Pets
Permanent · MINNEAPOLIS
LA MER
Manager, Global Supply Chain Operations - Inventory
Permanent · New York
MAC
Business Development – Key Consumer Manager, Mac
Permanent · New York
H&M
Retail Flagship Visual Manager
Permanent · Chicago
JBCSTYLE
Art Director
Permanent · NEW YORK
JBCSTYLE
Sales Operations Coordinator
Permanent · NEW YORK
ESTÉE LAUDER COMPANIES
Manager, Solution Architect- Omni Retail
Permanent · New York
TOM FORD BEAUTY
Vice President, Marketing, Tom Ford Beauty North America
Permanent · New York
ESTÉE LAUDER COMPANIES
Category Insights Manager - Supply Chain
Permanent · New York
ESTÉE LAUDER COMPANIES
Senior Account Coordinator, Estee Lauder Travel Retail – Americas
Permanent · Los Angeles

Wolverine Worldwide sees dip in revenue and earnings

Published
today May 9, 2019
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Rockford, Michigan-based footwear manufacturer Wolverine World Wide, Inc. (Wolverine Worldwide) reported decreases in its first-quarter revenues and earnings on Thursday, providing updates on its latest strategic investments and reaffirming its full-year outlook.


Wolverine Worldwide's portfolio includes Wolverine, Sperry, Merrell and Saucony, among other brands - Instagram: @wolverineboots

 
For the first quarter ended March 30, 2019, the company announced net revenue of $523.4 million, down 2.0% from $534.1 million in the prior-year period. On a constant currency basis, the decline was 0.9%.
 
Quarterly net earnings attributable to Wolverine also fell, totaling $40.5 million ($0.43 per diluted share), compared to $46.7 million ($0.48 per diluted share) in Q1 2018.

Despite these slipping figures, Wolverine Worldwide Chairman, President and CEO Blake Krueger was optimistic about the company’s results.
 
“We are pleased to report first quarter earnings per share which exceeded our expectations,” he said in a release, pointing out that four of the company’s top-five brands, including Merrell and Saucony, had posted higher than expected revenues.
 
The CEO also highlighted Wolverine Worldwide’s owned e-commerce business as a particular bright spot, having posted revenue growth of 28% year over year. He did, however, admit that the Sperry brand had struggled in the quarter.
 
“We expect revenue growth to resume in the second quarter and accelerate during the second half of the year as we continue to invest in a variety of initiatives to drive topline growth and attractive earnings leverage,” added Krueger.
 
With these forecasts in mind, Wolverine Worldwide reaffirmed its full-year 2019 outlook for revenues, which are still expected to be between $2.28 billion and $2.33 billion, representing growth of 3.0% at the mid-point of the range. Annual diluted earnings per share are now expected to be in the range of $2.00 to $2.15.
 
The company is currently investing heavily in international expansion, having recently embarked on a joint venture with Chinese sportswear retailer Xtep International to develop, market and distribute Merrell and Saucony products in mainland China, Hong Kong and Macau.
 
The footwear manufacturer is also acquiring one of the key distributers of its Saucony brand in Europe, in an effort to drive expansion efforts in the region, and is investing in a number of new Sperry and Merrell outlet locations.
 
“Our diversified portfolio was an asset during the quarter as several brands experienced attractive revenue growth, which helped to offset the macro headwinds faced in other parts of the business,” explained VP and CFO Mike Stornant. “We remain committed to making key investments to drive revenue growth as part of our Global Growth Agenda.”

Copyright © 2019 FashionNetwork.com All rights reserved.