The outdoor lifestyle group has announced skyrocketing e-commerce sales in the first nine weeks of Q2, giving the company hope of achieving better-than-expected results in a quarter negatively impacted by Covid-19.
The owner of Merrell, Sperry and Hush Puppies announced a 16.1% decline in its Q1 revenues on Wednesday, although the company insisted that it is well positioned to “emerge even stronger” from the Covid-19 crisis.
With operations still running, Wolverine has seen positive online sales and has taken precautionary steps by delaying projects, reducing operating expenses and drawing down the remainder of its revolving credit line.
As Covid-19 continues to spread, the footwear and apparel company announced the temporary closure of its stores on Thursday, but was keen to point out that it is “well positioned to weather the current challenges."
The footwear company announced a slight increase in its fourth-quarter sales on Tuesday, but plummeted into loss as expenses related to environmental litigation took their toll on the group’s bottom line.
The Rockford, Michigan-based footwear manufacturer reported decreases in its first-quarter revenues and earnings on Thursday, providing updates on its latest strategic investments and reaffirming its full-year outlook.
Following the retirement of Joseph R. Gromek, the American footwear manufacturer announced the appointment of apparel and footwear industry vet David W. McCreight to its board of directors on Wednesday.