The American group of footwear brands recorded a 2.5% decline in sales in 2015, down to $2.69 billion. For 2016, top management expects a downturn ranging between 4% and 8%, but the group's profitability should improve.
The American group has appointed Rick Blackshaw, who has served as president of Keds since January 2012, as president of Sperry Top-Sider. To fill the vacancy he leaves at Keds, Chris Lindner will take the opposite path.
The U.S. group has completed the integration of its PLG brand acquisition. Pro forma revenues rose to 1.96 billion euros, a 5.6% increase over 2012. The group forecasts growth in sales of 3% to 6% in 2014.
The U.S. footwear group doubled its revenue in the first quarter of 2013 ended March 23. The boost came mainly from newly acquired PLG brands, but these still managed to weigh on the company’s operating margin.
Wolverine Worldwide Inc is teaming up with two private equity firms to buy Collective Brands Inc in a $1.32 billion deal that will split Collective's shoe brands from its Payless ShoeSource retail business.