Wolverine Worldwide begins year with growth
For its first quarter ending on March 28, US footwear group Wolverine Worldwide recorded 631.4 million dollars in turnover, up slightly by 0.6% compared to the same period last year. At constant exchange rates, sales grew by 3.4%. Growth was partially slowed by the exit of the Patagonia Footwear license.
Wolverine Worldwide’s net earnings, meanwhile, grew to 40.1 million dollars, up 7.7%, and consolidated revenue reached 63.6 million dollars as compared to 57.5 million one year earlier.
In detail, its lifestyle division (Sperry Top-Sider, Stride Ride, Keds, Hush Puppies...) saw its sales reach 243 million dollars, up 2.1%. Its heritage division (Sebago, Wolverine and Harley-Davidson footwear license) saw sales at 126.1 million dollars, up 4.5%; while its performance division saw sales fall by 2.2% to $243.4 million.
For the entirety of its 2015 fiscal year, Wolverine expects revenues between 2.82 billion dollars and 2.87 billion dollars, an increase of between 2 and 4%.
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