Flat quarter for Wolverine but confidence remains high
28/04/2015
The company said retail store closures, which are part of a “realignment plan” and the end of its licence agreement to produce footwear under the Patagonia brand were two of the factors that had contributed to lower revenue growth this time. However, chief executive, Blake Krueger, said he was confident Wolverine’s growth around the world would accelerate in 2016 and beyond.
He said on announcing the results: “Our first-quarter results reflect the continued strength of our brand portfolio and a global business model that is built on 15 brands, targeting multiple consumer groups, distribution channels and geographies. We believe the strategic investments we are making in our brands position us to capitalise on the many opportunities we have identified.”
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