Merrell pushes Wolverine towards a record 2013 - sportstextiles: Lea SportsTextiles

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Merrell pushes Wolverine towards a record 2013

17/01/2014
Wolverine Worldwide’s preliminary revenue results for the year ended December 28, 2013 show the outdoor group is on track for a record, following growth at its biggest brand, Merrell.  

Revenue is estimated to reach $2.69 billion - 5.5% higher than in 2012. 

Wolverine CEO Blake Krueger said:  “In the fourth quarter, excellent double-digit revenue growth from Hush Puppies, CAT Footwear, and Keds and solid mid-single digit revenue growth from Merrell and Saucony were partially offset by softness from Sperry Top-Sider and Stride Rite. Sperry's performance, in particular, was impacted by fall weather conditions that heavily favoured boot offerings versus casual product.  

“Geographically, double-digit revenue growth in each of the Asia Pacific and Latin America regions was offset by flat revenue growth in the US, our most significant market, and the EMEA region."
 
The company is forecasts mid-single-digit growth for 2014 but cautions on the “tepid environment for consumer soft goods in the US”. 

Last summer, Wolverine appointed a former Under Armour executive as CEO of Merrell and tasked him with turning the company into a billion dollar brand.






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