Wolverine Worldwide reports Q2 profit up 40%
US-based outdoor group Wolverine Worldwide has reported that its second-quarter profit climbed almost 40%, buoyed by strong results from its outdoor group and its Merrell shoe and apparel brand.
The company said today that its net income rose to $24 million for the period ended June 18 – up from $17.2 million a year earlier. Revenue rose 20% to $310.1 million from $258.2 million.
Chairman and CEO Blake Krueger said in a statement that the company experienced double-digit revenue gains in all branded groups, particularly pointing out the strength of its outdoor group and Merrell brand. Revenue for the outdoor group increased 30% to $127.3 million.