Record Q2 revenue for Wolverine Worldwide
10/07/2012
Revenue for the quarter was a record $312.7 million, an increase of 0.8% compared to the prior year's second quarter, when revenue grew by over 20%. The company said sales growth in the quarter was also “hampered by continued macroeconomic uncertainty in Europe, which created challenging trading conditions in that market”.
“We are pleased that despite the softness in certain global markets, most notably Europe, we remain on track to deliver another year of record financial results,” said chief executive, Blake Krueger. "Our US business had a solid quarter; our Outdoor Group, consisting of Merrell, Chaco and Patagonia Footwear, delivered a solid revenue increase in the quarter.”
He said recent feedback from key retailers has reinforced a positive outlook for the remainder of 2012 for Wolverine, and he fully expects the company to deliver record financial results. “We are tremendously excited about adding the Sperry Top-Sider, Saucony, Stride Rite and Keds brands and team members to our already powerful portfolio of global lifestyle brands,” he said. The announcement of the acquisition of the performance and lifestyle brands of Collective Brands came in May. Mr Krueger said Wolverine is on track to close the transaction in late summer or early autumn.
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