Wolverine Worldwide: sales up 2.6% in 2014
For its 2014 fiscal year ended on 3 January 2015, Wolverine Worldwide (Keds, Cat, Merrell, Sebago...) has published a preliminary result of approximately $2.76 billion, representing growth of 2.6% compared to prior-year revenue of $2.69 billion.
In the fourth quarter, sales rose to $808 million, up 9.1%. A result that counterbalances the mixed results of the third quarter which ended with a 0.8% drop, brought down in particular by the Lifestyle division (Sperry Top-Sider, Stride Ride, Keds, Hush Puppies…).
To continue to accelerate the growth, the Wolverine group plans to increase its investments by approximately 100 million dollars over three years, approximately $30 million of which is currently planned for fiscal 2015. The goal is to focus on omnichannel initiatives and international expansion.
The group has now adjusted its forecast for 2014 and expects a year-end 5% increase in its sale. A forecast that takes into account both the movements in exchange rates and the terminated license with Patagonia Footwear. Nevertheless, Wolverine expects its profits for the year to remain stable.
The final and detailed results are expected on 17 February.
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