Record Q3 results for Wolverine - sportstextiles: Lea SportsTextiles

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Record Q3 results for Wolverine

03/10/2011
Footwear group Wolverine Worldwide has reported record financial results for its third quarter, which ended on September 10, 2011. It achieved double-digit growth in revenue and earnings and a record operating margin.

Revenue rose 12.9% from the same quarter last year to $361.6 million, representing the fifth consecutive quarter of record revenue, driven by what Wolverine called “exceptional growth” from its outdoor group. Gross margin expanded to a record 40.6%; operating income rose 17.8% and operating margin expanded to a record 15.6%.

The outdoor group (consisting of Merrell footwear and apparel, Chaco and Patagonia footwear) delivered revenue growth of 19.9% for the quarter. The lifestyle group (Hush Puppies, Sebago, Cushe and Soft Style) also had an impressive performance with 21.6% revenue growth, and the heritage group (Wolverine footwear and apparel, Caterpillar footwear, Bates, HyTest and Harley-Davidson footwear) posted a 6.8% increase during the quarter.

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