Record year for Wolverine Worldwide and promises of product innovation for 2012
31/01/2012
Revenue rose 12.9% to a record $1.4 billion, driven, the company said, by double-digit growth in each of its branded operating groups. Wolverine Worldwide’s Outdoor group includes footwear brands such as Merrell, Chaco and Patagonia. Over the year, the Outdoor group contributed revenues of $551.8 million, an increase of 18% on the year before. The other branded operating groups are Heritage and Lifestyle.
On announcing the full-year results, chief executive, Blake Krueger, commented: “Each of our three branded operating groups and our direct-to-consumer business contributed to the year’s outstanding results. Additionally, all major international regions reported double-digit revenue growth, as our newly created international group focused on the significant opportunities outside of North America. We are very proud of the record performance in 2011 and are excited about the global momentum of our brands, our continued geographic expansion and the impressive product innovations we have planned for 2012.”
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